2023 Author: Eric Donovan | [email protected]. Last modified: 2023-11-27 05:39
The car rental company Sixt wants to grow even faster than planned this year. In the USA in particular, the company continues to give it all.
Germany's largest car rental company, Sixt, intends to continue to step on the gas in the USA and has raised its expectations for this year: Group operating revenue, i.e. excluding revenue from the sale of used leasing vehicles, should increase significantly in 2015, thanks in particular to the international expansion. So far, the company had only expected slight growth.
The company is also somewhat more confident about earnings before taxes. "Overall, the Sixt engine is running smoothly, we are well on the way to a new record year for the company," said CEO Erich Sixt in a telephone conference on Thursday.
Lots of potential in the US
In the USA, which should develop into the second most important market after Germany for Sixt, the car rental company now operates 61 stations, with a further 20 to 30 to be added by next spring. CEO Sixt is convinced that there would be room for many more bases: "The USA could use 1000 Sixt stations." Nevertheless, the expansion should be cautiously advanced, as the company “does not want to overstretch”. Sixt also relies on franchise partners, but intends to operate important locations such as Chicago Airport on its own in the future.
In France, a few months ago, the company was awarded the contract by the French state railway SNCF for stations at French train stations. China, on the other hand, is a “very tough, merciless market,” where you had no fun with a licensee, said the CEO. That is why Sixt is initially relying on Chinese tourists who rent cars when traveling abroad and is marketing them in the Middle Kingdom. "A few hundred thousand Chinese are now actually renting cars outside of China."
In the second quarter, the Group's total sales climbed by almost 22 percent to 537.8 million euros. Before taxes, Sixt earned 46.7 million euros, a good 14 percent more than a year earlier. (dpa)
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