10 Jun The Europcar team reinforces its leadership within the low cost segment
The Europcar team, key player within the mobility sector, announces the rearrangement of its Low Cost Business unit in order to fully benefit of its recent Goldcar acquisition.
The car rental segment is one of the most dynamic ones in Europe, with an approximate size of 1,500 million Euros and an annual growing rate of 12% and it is expected that it’ll keep growing at a similar rate, specially in destinations such as France, Spain, Italy, United Kingdom, Portugal, Greece or Turkey.
The Low Cost Business Unit will be lead by Juan Carlos Azcona, former general manager of Goldcar and will bond the InterRent and Goldcar brands. The combination of these two companies allows the Team to build a consistent organization and to benefit of a signifiant segment withing the low cost market. This merge is expected to generate an important percentage- at least a 15%- of the income of the Team in the near future.
In order to fully benefit from Goldcar’s agile organizational structure, adjustment process and solid, flexible and scalable computer system, the InterRent brand and business will be managed by Goldcar in Portugal, Spain, France, Italy and the United Kingdom.
Along with the Low Cost Business Unit rearrangement, the Team is currently adapting its brand architecture in order to take advantage of the growing opportunities inside the leisure market, offering their clients mobility solutions that can satisfy their expectations as far as service, support and price go.
As a result, InterRent will progressively reposition itself as a mid-tier (mid-segment) brand of the Team and will be geared towards leisure clients who want to find a balance between the right price and a simple and pleasant experience.
Positioning InterRent within the middle segment will take a strategic movement in order to achieve a segment that is expected to represent around a 20% of the global market. This segment reflects a significant increase as a result of a market tendency. Fabrizio Ruggiero, sales, marketing, clients and Low Cost executive vice-president explains: “just three months after Goldcar’s acquisition, we have established our strategic positioning within the low cost market and we have started to execute our plan for this Business Unit in order to achieve the greatest part of the creation value that we had intended at the moment of the acquisition. Therfore, we want to reiterate our trust in this synergy because we will save at least 30 millioh Euros in costs by the end of 2020. Also, the definition of our new brand architecture provides us with the great opportunity to fully develop our leadership in the three market segments that we operate: the premium segment with Europcar®, the middle segment with InterRent® and the lowcost segment with Goldcar®. We believe this new brand architecture allows us to achieve a wider range of clients through stronger brands and strengthen our undisputed leadership.”