Enterprise Holdings Inc. has developed and cultivated a broad portfolio of business lines designed to meet the needs of customers, delivering mobility solutions for both consumers and businesses.
This approach, coupled with the continued expansion of the company's diverse range of business lines in North America and abroad, has resulted in record revenue over the past year, according to the company.
In fiscal year 2022, Enterprise Holdings and its affiliate Enterprise Fleet Management generated worldwide revenue of more than $30 billion, driven by the increase in demand for travel, strong performance in Europe, and growth in the U.S. and Canada through its Enterprise-branded business lines.
"From the daily rental business for which we are globally recognized, to the wide range of business lines that have established Enterprise as a leading mobility company, our amazing team of 80,000 employees has enabled our success through an unwavering focus on exceptional customer service," said Chrissy Taylor, president and CEO of Enterprise Holdings.
As part of its daily rental business, the company owns and operates the Enterprise Rent-A-Car, National Car Rental, and Alamo Rent A Car brands through a global network of independent regional subsidiaries. This network includes more than 10,000 fully staffed neighborhood and airport rental locations in more than 90 countries and territories.
Strong consumer demand drove a year-over-year increase in rental days throughout the U.S. and Canada. This was driven largely by an increase in replacement and commercial business, both at its airport and neighborhood locations, according to the company.
Internationally, the daily rental business showed growth at the company's corporate-owned airport and neighborhood branches in Europe – the U.K., France, Germany, Ireland, and Spain.
To meet increased demand, Enterprise Holdings and its affiliate Enterprise Fleet Management worked with its manufacturing and dealership partners to continuously add vehicles in FY22, growing its fleet total to more than 2.1 million cars, above the company's pre-pandemic fleet size.
Additionally, Enterprise has invested in growing a range of mobility solutions through Enterprise-branded business lines, including Enterprise CarShare and Car Club; Enterprise Fleet Management (leasing); Enterprise Car Sales; Enterprise Truck Rental and Enterprise Flex-E-Rent; Exotic Car Collection by Enterprise; and Commute with Enterprise (vanpooling).
In fiscal year 2022, these business lines performed well:
- Commute with Enterprise had double-digit growth and put over 3,000 new vanpools on the road.
- Enterprise Fleet Management reached its highest number of deliveries of new vehicles to clients, and it surpassed 600,000 units on lease to start the new fiscal year.
- Enterprise Truck Rental celebrated a record-breaking year with 60 locations opened, including the opening of its 500th location.
- Internationally, Enterprise Flex-E-Rent in Europe grew its fleet to more than 50,000 vehicles, and Enterprise CarShare expanded into Germany, France, and Spain.
- The company's franchise division opened more than 150 branches and announced expansion into three new markets: The U.S. Virgin Islands, the Bahamas, and Morocco. Expansion into South Africa was just announced for early fiscal year 2023.
"Maintaining strict discipline to our business strategy, which includes investing in and diversifying our lines of business, has positioned us well for long-term future growth," said Taylor.
As the company looks to the future of mobility, it is prioritizing opportunities that build on and maximize its core business while also expanding into new areas of mobility, including connected cars, autonomous vehicles, and electric vehicles.
"Our approach is focused on ensuring we deliver a great experience and investing purposefully to support the long-term viability of new technologies," Taylor said.
Originally posted on Auto Rental News