(Bloomberg) There’s a fly in the ointment of taking that longed-for vacation as pandemic restrictions finally ease. This summer in Europe, rental cars are blowing the budget.
Regulatory News: Europcar Mobility Group (Paris:EUCAR) announces the following changes within its Board of Directors: Virginie Fauvel has presented to the Chairman of the Board of Directors
Change in the Executive Committee of Europcar Mobility Group
Regulatory News:
After 10 years within the Europcar Mobility Group (Paris:EUCAR), Fabrizio Ruggiero, Group s Deputy CEO, will leave the company at the end of August, to take up a new professional challenge.
As a consequence, he will step down from his position as Deputy CEO in charge of the Service Lines, the Vans Trucks BU, e-commerce, sales, brand management, customer engagement and international partner development.
The Board of Directors would like to thank him for his strong contribution to the development and the transformation of the Group. First as Italy Country Manager, then as a Deputy CEO of the Group, Fabrizio constantly strived to make Europcar Mobility Group the European N°1 of vehicle rental that it is today, notably expanding its global network as well as its brands portfolio.
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NEW YORK, May 5, 2021 /PRNewswire/
Technavio has been monitoring the car leasing market and it is poised to grow by 23696.77 thousand units during 2021-2025, progressing at a CAGR of over 18% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Technavio has announced its latest market research report titled Car Leasing Market by End-user and Geography - Forecast and Analysis 2021-2025
Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have at par impact on the car leasing market.
Europcar Mobility Group: First Quarter 2021 Results
YET SOLID RESILIENCE IN DOMESTIC AND V&T ACTIVITIES
STRONG REBOUND IN THE US
LOWERED BREAKEVEN POINT LIMITED CASH CONSUMPTION
ROLLOUT OF CONNECT ON TRACK, WITH FIRST SOLUTIONS SERVICES DELIVERIES
Regulatory News:
Q1 2021 HIGHLIGHTS
Revenue: €356m, down -36%
2, still reflecting the impact of travel restrictions in Europe but showing also a good performance of domestic markets with resilient activities. The US, Australia and New Zealand show good signs of recovery
A strong improvement in margin after direct costs: +2 percentage points to 24.0% vs Q1 2020 thanks to significant reduction in the average fleet (-36% to 187,000 vehicles) and sharp increase in utilization rate (69.9% in Q1 2021) combined with solid cost reductions, demonstrating the Group s flexible model and fast adaptation