Following the good demand Sixt increased its investments last year. In the reporting year 158,900 vehicles (2010: 140,700 vehicles) were added to the rental and leasing fleets at a total value of EUR 3.75 billion (2010: EUR 3.15 billion). This equals an increase of 13% in the number of vehicles and 19% in the value of vehicles.
Outlook for 2012
Sixt is readying itself for a more difficult year in 2012, given the general expectation of a global economic slowdown. The Managing Board considers a further increase in rental revenues and growth in leasing sales possible, but also reckons with higher operating costs. Though Sixt expects to see another good earnings position in 2012, because of the macroeconomic risks the high earnings level of 2011 will be hard to repeat.
Developments in Vehicle Rental
With presence in Germany, France, the U.K., Spain, the Benelux countries, Austria, Switzerland and Monaco, Sixt subsidiaries cover more than 70% of the European rental market. In the European countries other than Germany, and in other regions of the world, the Sixt brand is represented by a close-knit network of franchisees. Sixt has vehicle rental operations in a total of about 100 countries. At the end of 2011, Sixt had 1,846 rental offices worldwide, 485 of them in Germany.
The successful start on the U.S.-American rental market is one of the highlights of the last year. Since 2011, Sixt has been represented in the metropolises of Miami, Fort Lauderdale, Orlando and Palm Beach in the state of Florida. The volume of Florida's vehicle rental market alone equals roughly the size of the German rental market. Sixt plans to increase its U.S. presence step-by-step and cautiously. The business performance in the first year exceeded expectations.
In June 2011, the new premium car-sharing offer DriveNow got off to an encouraging start. It is a joint venture owned in equal parts by Sixt and BMW. More than 18,000 members have already registered for this innovative model of urban mobility. At present, DriveNow is available in Munich, Berlin and Düsseldorf, with a speedy expansion to further metropolitan areas in Germany and Europe planned for 2012. The long-term aim is still to expand DriveNow into a worldwide brand.