VW joins rental fray with corporate leasing

Although China's car rental market is dominated by domestic companies, Volkswagen Financial Services AG from Germany has found a way to tap into the booming sector - by focusing on corporate customers first.

It has begun leasing in China through the recently established Volkswagen Leasing (Beijing) Co and Volkswagen Leasing (Shanghai) Co.

"Volkswagen Financial intends to fully enter the Chinese market with its advanced operational concepts and advantages in business resources," said Peter Tempich, general manager of Volkswagen New Mobility Services Investment Co, parent of the two newly established leasing companies.