Automotive group Cycle & Carriage Singapore has entered the car leasing business by forming a new unit wholly owned by parent company and Singapore-listed Jardine Cycle & Carriage.
The new unit, Cycle & Carriage Leasing, will provide various options from daily rentals to long-term car rentals of up to three years. It will also be available to private-hire drivers.
It has formed a fleet partnership with Gojek as it looks towards leasing and managing car fleets for corporate clients, including key players in the ride-sharing sector.
Cycle & Carriage Singapore managing director Eric Chan said yesterday: "This reflects our drive to stay ahead and be competitive in the automotive industry by responding dynamically to changing market demands."
Cycle & Carriage Leasing's fleet will consist mainly of brands represented by Cycle & Carriage Singapore such as Kia Cerato, Kia Stonic, Kia Niro Hybrid and Mitsubishi Attrage.
