Enterprise Holdings released the latest results Oct. 11 of its multiple transportation brands and services, indicating a leap in international growth during the past fiscal year.
The business has invested heavily in growing its international footprint and diversifying its offerings through car rental, carsharing, truck rental, fleet management, flexible vehicle hire, and retail car sales, resulting in $35 billion in revenue for Enterprise Holdings and its affiliate Enterprise Fleet Management (EFM) in fiscal year 2023 (FY23).
Enterprise Holdings is the ninth largest private company by revenue in 2022, according to Forbes.
The conglomerate has an integrated global network of subsidiaries and franchisees, which collectively includes almost 9,500 fully staffed neighborhood and airport locations in more than 90 countries and territories.
“We are seeing more and more customers using multiple business lines to support a wide range of mobility needs across the globe,” said Enterprise Holdings President and CEO Chrissy Taylor in a news release. “As the mobility sector evolves, we will continue to invest significantly in our diverse lines of business, continue to enhance the customer experience, and explore new markets to meet the growing needs of our customers.”
Solid international performance contributed to strong results, with the organization’s corporate-owned affiliates in Europe (including the U.K., France, Germany, Ireland, and Spain) recording their most successful years to date.
The organization’s fleet size in Europe has also grown, up 21% year over year compared to FY22. In addition, Enterprise Holdings announced franchisee partnership agreements to expand to Chile and broke ground in three new markets, opening branches in Morocco, South Africa, and South Korea.
Strong performances from Enterprise-branded business lines also contributed to record revenue in FY23. Both EFM and car share saw double-digit growth over the past year with truck rental and car sales increasing their footprint by adding new branch locations in FY23. Globally, the combined fleet size of Enterprise Holdings and EFM increased to more than 2.3 million vehicles.Another reason for Enterprise Holding’s successful FY23 lies in the steady growth of its contracted business — including B2B accounts and insurance replacement, among others —which accounted for most of its rental days in the fiscal year.
In FY23, the businesses also increased the total global workforce by more than 10,000 to 90,000-plus employees. Enterprise Holdings was one of 57 organizations worldwide to earn the 2023 Gallup Exceptional Workplace Award (GEWA) — an accolade that spotlights the most engaged workplace cultures in the world.
Enhancing CX Through Innovation
The business invests in enhancing the customer experience, which it said has contributed to longevity and success. In FY23, several lines of business and geographies exhibited record customer service scores from customers and partners.
The business also continues to cultivate and invest in multiple solutions and partnerships designed to enhance customer experience and drive innovation. Select highlights include:
- Enterprise Holdings has a long-term, comprehensive electric vehicle strategy focused on three key areas: Customer experience, power and charging viability, and equitable access. In FY23, the company partnered with automakers to add more electric vehicles to its fleet, enabled customers to test drive EVs, and leveraged its fleet management leadership through its affiliate EFM to help brands like Domino’s execute its EV strategy.
- The business also is investing in flexible and resilient energy assets, such as Moxion’s mobile energy storage solutions and Freewire’s energy storage integrated fast chargers.
- An effort to help remove friction was launched around the most critical steps in the rental journey to deliver customers enhanced control, personalization, and transparency.
- Enterprise Holdings continues investing in solutions like SmartAssist, a new SaaS offering that, along with ARMS technology enhancements, will help partners and customers reduce friction after an accident.
- The business continues to add connected cars to its fleet with more than 525,000 connected globally and a goal of connecting the full fleet of more than 2.3 million vehicles by 2026.