We recently had the opportunity to interview Jasbir Bassi, a visionary entrepreneur and Chairperson of Carfare Group. With over 25 years of experience in leading the venture, Jasbir has leveraged her expertise to take the company to new heights in the hospitality industry. Dedicated to offering top-notch vehicle rental and leasing services to individual and corporate clients alike, she has led the company with a commitment to quality.
Honored with the “Black Swan Award for Women Empowerment” in 2018-2019, “Being She Award” for excellence in the Transportation Sector by Gulf News and “Being She” in 2024, Jasbir Bassi is an acclaimed professional in the region for her leadership skills and her vision to empower women.
Spark Behind the Journey
We started the interview by asking, “What first inspired you to pursue your current industry or professional path? Was there a defining moment or influence that shaped your direction?”
Jasbir Bassi shared, “I have been in the rental industry running the family enterprise Carfare Group, which comprises a Rent-a-car, Workshop, Auto detailing, and Used cars division for the past 28 years. To be honest, the idea of this business module was that of my late husband, Mr. K.S. Bassi. I just stood by him in his dreams and took up the entire responsibilities when he simply said: Manage the business, I know you can. So I have lived up to his expectations ever since.”
Adaptability Amidst Challenges
As a seasoned leader, Jasbir Bassi has overcome several obstacles in her career path. To learn more, we asked, “Can you describe one significant challenge you’ve faced in your career or business, and how you successfully overcame it?”
“There were multiple challenges as we opened up the business, be it competition, creating a brand name with our space in the industry. Above all with no prior experience or background in this particular business. A dream of doing something different, coupled with immense passion, responsibility, and trust, has eventually led to the success of our business.
Starting off with a modest 5 cars with a single outlet, Carfare now boasts a fleet size of over 3000 cars with multiple locations all over the U.A.E. The courage to overcome challenges, along with consistent hard work, led to success slowly and steadily,” explained Jasbir.
Potential Trends Reshaping the Industry’s Future
To understand Jasbir Bassi’s perspective on the impact of the upcoming industry trends, we asked, “What key trends or changes do you foresee shaping the future of your industry over the next 3-5 years?”
Jasbir Bassi mentioned, “We live and operate in the U.A.E., a country which is constantly growing, developing, and changing at a rapid pace. The vision of our Leaders is futuristic with innovation and technology shaping trends. The rental industry, which is about modes of transport, is seeing a massive shift towards EVs and hybrid models in all car brands. Therefore, the future looks all AI-powered with sustainability being at the core.”
Plans we asked Jasbir Bassi
We further asked, “What are your long-term aspirations for your company or role, and what strategies are you implementing to reach them?”
“We have always tried to be flexible and adaptable with the market trends at all times. Knowing our customers’ needs and offering them options available is the only way to stay afloat in the midst of stiff competition.
Our USP is always about knowing our customers and meeting their requirements with tailor-made options of their choice,” explained Jasbir.
Redefining Businesses with AI
Technological advancements like AI are playing a crucial role in revolutionizing business operations across industries. So, we asked, “How do you see artificial intelligence and emerging technologies influencing your industry or business model?”
Jasbir Bassi stated, “It is definitely the age of AI; the influence of AI in our lives is changing the way we live, work, and operate a business. In the rental industry, AI and emerging technologies are already creating a significant impact. The use of AI and technologies helps to monitor customer needs, fleet optimization, fleet movement, implement dynamic pricing, sustainability, and enhanced safety and fraud prevention. Usage of mobile apps allows customers to book vehicles without visiting a counter—streamlining the entire rental process.”
Values at the Root of Carfare Group
Interested to learn more about the principles guiding the company, we asked Jasbir Bassi, “What are the core values of guiding principles that influence your decisions and the way your organization operates?”
“The core values and guiding principles that influence our decision making and the operating process are Trust, Honesty, and Moral Ethics. Carfare Group is family-run and owned; therefore, our presence in the market should be backed by these ethics and values,” she reflected.
Embracing Innovative Practices
Innovation is the key to the long-term success of a business. To learn more, we asked, “Can you share an innovative strategy or approach that helped your company stand out or achieve a breakthrough?”
Jasbir Bassi mentioned, “Carfare has always been a brand name to reckon with. Staying in par with market scenarios and ever-changing customer needs has been the core objective at all times.
A well-thought-out strategy that has sustained our business is to go digital. During the pandemic, we teamed up with our online subscription partners to reach out to customers as regular footfall was severely impacted. Due to that we are accessible to a wider range of customers and able to fulfil their needs. Thus, making it a hassle-free customer interaction.”
Evolution as a Leader
Lastly, we asked, “How has your leadership evolved throughout your journey, and what lessons have shaped your approach to leading teams or businesses?”
“I have been working actively at my company for more than 25 years now. Every day is a learning experience as one must deal with complex and varied scenarios each day. You are never 100% sure or right about which or how any strategy might work. One must be open to new ideas, be ready to face challenges, and be strong and resilient to face the outcomes.
I have always guided my team by supporting them in their processes as they look up to me each day for the same. A sense of responsibility, strength, and patience engulfs me every day whilst leading the business,” Jasbir concluded.
To learn more about Jasbir Bassi’s journey, follow her on LinkedIn.
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