Score of 78 in national brand competitiveness index
Corporate long-term rental products allow early returns without penalty
Vehicle inspection proxy service expanded to general drivers
Lotte Rental's car rental brand has topped a domestic brand competitiveness ranking for the 15th consecutive year. The company credited its standing to the launch of long-term rental products that reduce the burden of early returns for corporate customers, as well as the expansion of vehicle management services to drivers beyond its existing rental customer base.
Lotte Rental announced Friday that its Lotte Rental car brand scored 78 points in the car rental category of the 2026 National Brand Competitiveness Index, or NBCI, administered by the Korea Productivity Center, claiming first place.
The NBCI evaluates brand competitiveness by combining consumer perceptions of brand awareness, image and loyalty. Scored out of 100, this year's assessment covered 217 brands across 60 domestic industries.
The car rental category survey ran for three months beginning last April, targeting consumers between the ages of 20 and 59 who had used a car rental service within the past year or were currently doing so.
Lotte Rental car earned first place in the car rental category with a total score of 78. The diversification of its long-term rental products and the broadening of eligibility for its vehicle management services were cited as positive factors in sustaining its brand competitiveness.
A prime example is the "Bizcar420" and "Bizcar530" products launched for corporate customers. Both are designed to lower monthly rental costs by setting longer contract terms, while allowing customers to return vehicles without a penalty fee after a set period of use.
Bizcar420 calculates monthly rental fees based on a four-year contract. However, once a customer has used the vehicle for more than two years, the car can be returned without an early-termination penalty regardless of how much time remains on the contract. The product targets companies with relatively short vehicle replacement cycles.
Bizcar530 sets monthly fees based on a five-year contract, reducing costs further. After the mandatory three-year usage period, customers may return the vehicle without a penalty. It is aimed primarily at corporate customers seeking to manage vehicle operating costs over the long term.
Long-term rental contracts typically carry an early-termination penalty when a vehicle is returned before the contract period ends. Lotte Rental said it designed these products to ease that burden while giving businesses the flexibility to choose a usage period that fits their vehicle operating plans.
The company has also stepped up marketing aimed at individuals and sole proprietors. In May, it launched an advertising campaign featuring actor Baek Hyun-jin to highlight the cost and vehicle management benefits of long-term car rentals.
Lotte Rental is also expanding its vehicle management services. The "Chabangjeong vehicle inspection proxy" service, introduced in January, handles mandatory regular and comprehensive vehicle inspections on behalf of drivers.
Users designate a preferred inspection date and vehicle pickup location through the Chabangjeong app, and a professional agent collects the vehicle, completes the inspection and returns it.
The service is open to anyone who owns a private passenger vehicle subject to regular or comprehensive inspection — not just existing Lotte Rental long-term customers. The move effectively extends the company's vehicle management services beyond car rentals to the general driving public.
"We believe this honor of topping the NBCI for 15 consecutive years was made possible by Lotte Rental car's relentless efforts to strengthen real-life convenience and benefits for customers, as well as the trust and support of our consumers," a Lotte Rental official said. "Going forward, all Lotte Rental employees will do their utmost to deliver a highly satisfying brand experience and to establish ourselves as the brand customers think of first."
Meanwhile, Lotte Rental reported third-quarter consolidated sales of 775.4 billion won ($582 million) and operating profit of 92.9 billion won on Nov. 5, up 2.3 percent and 4.4 percent, respectively, from the same period last year. With profits rising steadily across its long-term and short-term rental and corporate rental businesses, the operating profit margin improved 0.3 percentage points year-on-year to 12.0 percent.
kwater@heraldcorp.com
