Europcar Announces Stable Revenue for Q3

European car rental company Europcar announced its financial results for the third quarter and first nine months of 2011, reporting that year to year revenue was stable during a period of worsening economic conditions in Europe, according to a Europcar press release.

Philippe Guillemot, CEO of Europcar Group, said the company experienced growth in corporate segments and sustained demand in leisure segments, primarily from cost-conscious consumers. He said that in the current market uncertainty, the company has “prepared additional cost-saving initiatives, if necessary.”

The company reported revenue of €616 million in the third quarter and €1,526 billion in the first nine months of 2011.

The company also reported that it continued to improve its fleet utilization rate at 77.3% rate in the third quarter of 2011 compared with 76.9% in the year-earlier period.

For the nine months ending Sept. 30, 2011, Europcar’s consolidated revenue rose by 0.1% to €1,526 million from €1,524 million in the first nine months of 2010 (restated at constant exchange rates). 

Average fleet in the first nine months of 2011 was 1.7% lower than the 2010 level for the same period, illustrating the higher utilization rate.

Comment On This Story

Name:  
Email:  
Comment: (Max. 10000 characters)  
Please leave blank:
* Please note that every comment is moderated.

Newsletter: Sign up to receive latest news, articles, and much more.

Read the latest

Auto Focus Blog: A blog covering fleets, auto rental and the business of cars

Autonomous Vehicles and the Changing Role of the Fleet Manager

With fewer drivers and substantially longer fleet lifecycles, fleet managers will pivot to new job functions.

2017: Fleet Mix Will Be Paramount

Car rental companies are migrating to vehicle segments with better residual values, though not without bumps in the road.

Auto Rental Summit: Five Trend Lines

Taking in the seminars, discussions, and networking at the 2016 Auto Rental Summit, trend lines emerged around shifts in model mix, data protection issues, increasing labor costs, workforce engagement, and new platforms to rent cars.

Job Finder: Access Top Talent. Fill Key Positions.