The company, which is a joint venture between the Avis Budget Group Inc and The Oberoi Group, currently has a fleet of 2,800 cars which serve two broad segments - renting car for short durations and long-term operating lease to corporates.
"We are growing at around 28-30 per cent year on year. To cater to the increasing demand, we plan to invest around Rs 200 crore in the next 12-18 months to take the fleet size to around 5,000 units," Avis India CEO Sunil Gupta told PTI.
Besides, the Delhi-based firm is also looking to expand base in the tier-II cities for its car rental business, which it thinks would bring in next level of growth for the company.
"We have established a huge network across the country. Currently, we have 42 offices across 19 cities. This year we have already opened offices at various tier-II cities like Chandigarh and Ahmedabad. We are now looking at places like Ludhiana, Surat and Thiruvananthapuram," Gupta said.
When asked about the new verticals that interests the company, Gupta said: "Self drive vertical, where a person can hire a car on a per day rental basis, will see a surge with road improvement in road infrastructure, as well as expansion of technology like GPRS. We expect this segment doing well," Gupta said.