Related: Europcar Mobility Group to Provide Free Vehicles to Doctors, Nurses
Europcar Updates Cost-Saving Plan
Europcar has finalized its first lines of financing, 70% guaranteed by the Spanish State for an amount of 36 million euros.
April 20, 2020
Europcar continues to deploy its plan to reduce the volume and cost of its fleet and renegotiate some of its contracts and using partial unemployment.
Photo via Max Pexels.
1 min to read
As part of the cost-saving and cash preservation plan to reduce its costs, Europcar Mobility Group announced that on April 13 it finalized its first lines of financing, 70% guaranteed by the Spanish State for an amount of 36 million euros ($39 million).
These financing lines, with a three-year maturity for its two operating subsidiaries in Spain are intended to consolidate the Group's liquidity to enable it to meet its vehicle financing needs and its corporate needs related to the impacts of the COVID-19 pandemic.
The Group is continuing its efforts to obtain additional financing guaranteed by the French State via the BPI. The Group has contacts of the same type through its foreign subsidiaries in countries where similar support measures have been deployed.
Europcar continues to deploy its plan to reduce the volume and cost of its fleet and renegotiate some of its contracts and using partial unemployment.
More Rental Operations
Sixt Revenue Tops $2.4 Billion in First Half of 2026
Sixt’s first-half revenue surpassed $2.4 billion for the first time as demand outpaced fleet growth, lifting utilization and earnings despite weaker consumer sentiment in North America.
Read More →
In Memoriam: Bobby Klyce, Avis Licensee Legend
The longtime Birmingham Avis operator and 2018 Auto Rental News Impact Award recipient was remembered as an advocate for independent licensees and the broader car rental industry.
Read More →
Aug. 25 Webinar: Build Custom Fleet Tools With AI and Vibe Coding
A new Automotive Fleet webinar explores how fleet managers are using AI and vibe coding to automate routine work and create simple operational tools without traditional programming skills.
Read More →
Car Rental Rates Forecast to Rise 3.6% in 2026 Before Easing in 2027
Car rental rates are projected to rise less than airfares and hotel rates in 2026, then become the only major travel category forecast to decline in 2027, according to projections from GBTA and ALTOUR.
Read More →
Avis Cuts Fleet as Summer Demand Trails Expectations
Avis Budget Group increased second-quarter earnings despite lower Americas revenue and softer-than-expected summer demand. The company also expanded Avis First and advanced its autonomous fleet operations with Waymo.
Read More →
Why Bookings Are Only the Start of the Rental Day
A reservation captures demand. The operating test is whether the business can keep the customer, vehicle, commercial terms, and next action aligned until the rental is closed.
Read More →
This Is the Oldest Car Rental Advertisement You’ll Ever See
This ad for Saunders Drive it Yourself, believed to be the first car rental company in the U.S., was found in an Omaha phone book from 1926.
Read More →
The Desk Upsell Is Costing Operators More Than it Earns
Counter upsells generate revenue, but they can also slow transactions, erode trust, and cost repeat business. Fully inclusive pricing may offer operators a better path to long-term value.
Read More →
U-Save Expands Indian Ocean Presence with New Master Franchise for Mauritius
The franchise has been acquired by Mauritian travel entrepreneur Umarfarooq Omarjee, an established figure in the island's tourism and mobility sector.
Read More →
Global Carsharing Fleet Projected to Reach 768,000 Vehicles By 2030
A new Berg Insight forecast outlines several business models driving the projected growth in public carsharing worldwide through 2029.
Read More →