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Car rental business paralysed with Covid-19, Companies sell cars as losses mount

A majority of travel agencies, mainly those dealing with car rentals, are bearing the brunt of the Covid-induced travel restrictions.Companies are selling their vehicles for huge loss as they are unable to pay EMIs.

Facing a threat to their livelihood, many car rental owners have shifted to alternative works to earn bread and butter for their families.Anita Jaiswal,who runs a taxi service with his son as driver had to sell her new car as she was unable to pay EMIs.Her son is now working as a delivery boy for a food delivery platform.

Satish Kumar, who runs a car rental business, said there were only a few bookings in the past two months as people were not moving out due to Covid. Moreover, there was no corporate movement as most officials were working from home.

“Grand weddings are also not taking place. Earlier, around 10-12 vehicles used to go for a wedding, but now, not even one,” he added.

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