Now, renting a car might not sound like 'the' solution because we've all been there and done that but it's the self-driving aspect of this business that's turning a new corner. It is very popular in the western part of the world but India has not yet warmed up to the idea and hence there are just about a handful of players in this segment like Myles, Hertz et al but largely this segment still remains unorganized.
Sakshi Vij, Founder & CEO, Myles says, "The rent-a-car industry is divided into three segments - the retail taxi, the corporate chauffeur driven market and the self-drive. The first two form a large chunk of the industry and are growing, but the self-drive market holds a lot of promise and that's where our Myles program comes into play"
There is a huge interest, according to Vij, in this segment and that's because the younger population is getting more conscious. "Less cars on the road leads to less congestion and you could do away with your second car and rent one for your travel needs. Self-driving is a practical approach to the future of mobility and now these services can be availed at most of the airports across the country."
The Myles program offers a wide choice of cars across segments. Pay a deposit of Rs. 5000 (which is refundable) and with hourly charges added to the gamut, you can move around on your own within the city or take a trip out of town. The self-drive service which was started in the year 2013 with 14 cars, today has 1200 of them in its fleet and is present in 21 cities across India.
There's everything from a Nano to a Mercedes in its fleet and the platform of self-drive provided by Myles, gives an opportunity to young entrepreneurs who are trying to make it big in the fleet segment and also sees the optimum utilization of the fleet. But yes, how do they manage to service these cars and keep them in good shape.
According to Vij, "Myles has service partnerships with OEMs and we can therefore keep our cars in good shape. 20 per cent of the time, the car remains stationary and we want to create an environment where the car is used to its maximum potential."
You can choose between a variety of cars and rents on each car depend on the body type of the car. So a hatchback, like the Maruti Suzuki Swift or the Ford Figo's rent per hour will cost you Rs. 100 and the amount increases to Rs. 150 if you opt for a sedan or a Compact SUV. Myles also provides the option of renting it on weekly or monthly basis as well.
According to Vij, the company has big expansion plans which will see them through the next 3 to 4 years. Myles plans to extend their fleet to up to 50,000 cars and that means they will be more accessible in the metros, but in the meanwhile as the industry grows, there will be a lot more competition at hand.
