Commitment to Innovation and Growth Makes FY2018 Another Record-Breaking Year for World's Largest Car Rental Operator
ST. LOUIS, Oct. 23, 2018 /PRNewswire/ -- As the industry's most innovative – and the world's largest – car rental operator, Enterprise Holdings Inc. just scored another record-breaking fiscal year (FY2018) with more revenues, transactions, vehicles, locations, investments and customer miles logged than ever before.
During FY2018, Enterprise Holdings – together with its affiliate Enterprise Fleet Management – increased annual revenues 8 percent to $24.1 billion. Total transactions exceeded 72 million for Enterprise Holdings' portfolio of car rental brands: Enterprise Rent-A-Car, National Car Rental and Alamo Rent A Car. Global fleet size grew to 2 million. In addition, Enterprise Holdings' fully staffed neighborhood and airport locations, which increased to more than 10,000, facilitated more than 30 billion miles logged by customers worldwide.
Strategic Acquisitions & Investments
Enterprise Holdings' acquisition and corporate venture-capital strategy continues to focus on technologies and business models that not only can accelerate industry-leading transportation solutions, but also customer satisfaction in a rapidly changing marketplace.
In 2007, Enterprise purchased the National and Alamo brands – its largest acquisition to date – and significantly increased its airport presence and global travel industry leadership. Since 2008, Enterprise has spent almost $2.4 billion making acquisitions and corporate-venture capital investments or commitments in the U.S., Canada, the U.K., France, Ireland, Spain, Brazil and China. Acquisitions include car rental companies, carshare operations, technology platforms and franchises.
Enterprise Holdings currently makes capital investments or commitments through its wholly owned entity, Clayton Venture Partners, which invests in post-revenue companies that have proven business models and an emphasis on emerging transportation technology and mobility. During FY2018, Enterprise Holdings completed new investments in Mobi, a human-centric real-time routing, assessment and planning technology company; and Migo, a multi-modal ground transportation metasearch app; as well as others that have yet to be announced.
Other publicly disclosed investments include:
- Mobileye, a developer of vision-based advanced driver-assistance systems (sold to Intel 2017).
- Deem, a managed travel technology platform.
- Quanergy, a leading autonomous vehicle sensor company.
- Coolfire Solutions, an IoT (Internet of Things) and situational-awareness technology platform.
Constant Innovation
While investments in emerging technologies plant seeds for future services, Enterprise Holdings and its affiliates are also committed to the kind of innovation, problem-solving and industry leadership that helps customers meet their current mobility needs today and in the future. For example, during FY2018, they:
- Partnered with Voyage, a company that is developing autonomous automotive options for communities across North America.
- Participated in a New York City carsharing program that dedicates hundreds of parking spots in more than a dozen neighborhoods in four boroughs.
- Helped businesses run their truck fleets more efficiently and meet new federal operating standards with Enterprise Telematics.
- Published an article in the ITE (Institute of Transportation Engineers) Journal: "The Value of Vanpooling as a Strategic, Cost-effective and Sustainable Transportation Option."
- Kicked off a new "Move Forward" marketing campaign that explores how innovators are using transportation technology to improve modern cities.
"We continue to thrive, year after year, because we know nothing is more important than taking exceptional care of customers every single day, across all brands and all business lines," said Christine Taylor, Enterprise Holdings' Chief Operations Officer and granddaughter of Enterprise Holdings' founder. "This kind of success in the highly competitive mobility sector is a direct reflection of our corporate culture and deep-rooted spirit of service and innovation."
In fact, innovation has played a key role in Enterprise Holdings' growth and success since it was founded more than 60 years ago:
- Pioneering an integrated network of neighborhood car rental services right where people live and work.
- Offering local customers free pick-up.
- Trademarking Virtual Car®.
- Developing an automated system to better collaborate with collision repair centers as well as streamline communications with insurance companies and customers.
- Launching hourly car rentals and then later carsharing in the U.S., Canada and the U.K. as a natural extension of its business rental program and longtime focus on local communities.
- Introducing Enterprise LaunchPad® mobile tablets to move employees away from the counter, enhance situational awareness, streamline administrative processes and provide real-time access to vehicle locations.
In addition to neighborhood and airport car rental services, Enterprise-branded business lines include: Enterprise CarShare and CarClub; Enterprise Fleet Management (leasing); Enterprise Car Sales; Enterprise Truck Rental and Flex-E-Rent; Exotic Car Collection by Enterprise; Zimride by Enterprise; and Commute by Enterprise (vanpooling).
Enterprise Holdings Inc. is the only North American car rental operator with an investment-grade credit rating. Enterprise Holdings and Enterprise Fleet Management are owned by the Taylor family of St. Louis and, as privately held businesses, do not disclose net income. Both ended their fiscal year July 31.
SOURCE Enterprise Holdings Inc.
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