The overseas car rental market in Malaysia and Thailand has not seen the expected "increase in both price and volume" Compared with the 2023 Spring Festival holiday, the overall car rental price dropped by 7% in Thailand and 15% in Malaysia. The price reduction during the Spring Festival will be affected by the "price war" between Malaysia and Thai car rental suppliers in 2023.
The recovery of car rental and self-driving tours was lower than the expectations of suppliers. The oversupply caused suppliers to take turns to cut prices and promote sales.