Sixt expects growth in car rentals

 Sixt ,a major European car hire company with an especially prominent presence in Germany, is expecting a very positive economic forecast when it comes to growth in the rental industry, at least in the short-term. The firm anticipates that both its revenue and profit margins will increase noticeably over the course of the year, as it continues to open new car rental locations and expand its business into other countries.

Erich Sixt, the firm’s chief executive officer, gave a speech earlier this week in which he pointed out that the prognosis is based on the assumption that Europe’s economy will remain relatively stable and in reasonably good health, as well as on several projected price increases, which Sixt hopes will not decrease consumer demand. Sixt certainly does have good reason to be optimistic. The German-based car rental company did extraordinarily well in 2007, when it successfully increased its net income by an impressive 27 percent, compared to numbers from the previous year. The firm’s income stood at a total of €94 million by the end of last year and revenue also increased, by a healthy 9 percent.

Sixt is currently Germany’s largest car rental firm and has been successful in remaining on top, despite fierce competition from generally much larger international giants. The company is also among the oldest in Europe, having been established in 1912. Six currently offers car rentals in 80 countries.

http://www.e-sixt.com/