Germany-based car rental company Sixt on Tuesday reported third-quarter revenue “at an all-time high” of €1.24 billion (US$1.38 billion), representing a 10 percent increase year over year.
Sixt’s net profit for the quarter was €179.5 million, down from the €183 million reported a year prior.
The North America market again led with the highest growth rates for the company’s regions in the quarter, with revenue increasing 21.3 percent year over year to €379.3 million. Germany generated revenue of €329.4 million, up 6.6 percent, while revenue in Europe, excluding Germany, increased 5.2 percent to €531.7 million.
The company’s average third-quarter fleet size increased to about 206,100 vehicles compared with 189,000 in Q3 2023.
Sixt added that while economic growth in the United States this year has been robust, the German federal government now expects the country’s gross domestic product to decline in 2024, while the economy remains under pressure in many European countries. “Despite this challenging landscape, following the strong summer business and the solid revenue performance year to date, the management board of Sixt SE continues to expect a significant increase in consolidated revenue for the full year.”
