Founded in September 2007 and with its headquarters in Beijing, CAR Inc., is the largest car rental company in China, providing customers with specialized short term and long term car rental services, as well as comprehensive support services throughout China. The company commands a clear leadership position in China across substantially all major operating and financial metrics including fleet size, network coverage, market share and revenue, according to Roland Berger, a leading global consulting firm. CAR had a fleet of approximately 60,000 vehicles, which is larger than the aggregate fleet size of the industry's next nine largest players, as of December 31, 2013. In addition, the Company is the only car rental company with network coverage across all provinces and provincial-level municipalities of China, with nearly 700 service locations in 66 major cities and 90 major airports and high-speed train stations across the country. Warburg Pincus invested CAR in 2012, and is one of the biggest shareholders of the company alongside Legend Holdings and Hertz Corporation.
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