Top 4 Global Car Leasing Enterprises
2018-10-12 13:52 Friday
The global car leasing market has grown by leaps and bounds in recent years, having currently reached a value in excess of $150 billion USD.
The profit margin for car leasing in the United States sits by 7%, followed by 5% in Europe.
Benefitting from high vehicle ownership rates and mature markets, a large number of car leasing enterprises in Western countries have grown into multinational corporations with substantial clout. The top four global car leasing enterprises as of 2018 are Hertz, Avis, Europcar and Budget; each company is equipped with certain advantages, and a unique service profile.
The Hertz Corporation, a subsidiary of Hertz Global Holdings Inc., is an American car rental company based in Estero, Florida that operates 9,700 international corporate and franchisee locations across 150 countries.
The Hertz Corporation owns Dollar and Thrifty Automotive Group. As of 2016, the company has revenues of $9.4 billion USD, assets of $1.9 billion USD, and 36,000 employees.
Avis is an American car rental company headquartered in Parsippany, New Jersey. Avis, Budget Rent a Car, Budget Truck Rental and Zipcar are all units of the larger Avis Budget Group.
Avis Budget Group operates the Avis brand in North America, South America, India, Australia, and New Zealand.
Avis is a leading rental car provider for business travelers at major airports around the world, and to leisure travelers at off-airport locations. Avis was the first car rental business to be located at an airport. In 2013, the company acquired Zipcar for $491 million USD.
Europcar Mobility Group is a French car rental company founded in 1949 in Paris. Today Europcar operates in 140 countries covering Europe, North America, Western Asia, and Africa. Since 2006, Europcar has been owned by Eurazeo, one of the top listed investment companies in Europe.
Budget Rent a Car System, Inc. is an American car rental company that was founded in 1958 in Los Angeles, California. Budget's operations are headquartered in Parsippany, New Jersey.
Of the approximately 800 Budget Rental Car locations in the U.S., 600 are company-operated locations and 200 are licensee locations. Internationally, there are 150 company-operated locations and 1,800 licensees
Chinese car leasing start-ups can draw from the example of the four companies above, to improve their service offerings and achieve sustainable growth.