After leaving DriveNow: Sixt attacks BMW and Daimler with a new kind of car sharing

03/15/2018

After leaving DriveNow Sixt, BMW and Daimler attack with a new kind of car sharing

DPA

Sixt employee

The car rental company Sixt Show stock market chart engages in car sharing: the company wants to say goodbye to the joint with BMW Show stock market chart operated sub-car company DriveNow soon go with their own offer at the start, announced CEO Erich Sixt on Thursday in Munich.

He plans to launch a mobility platform later this year that will bundle services such as car sharing, car rental and transfer services. It is therefore not a direct, very similar competing offer to DriveNow, a Sixt spokesman told manager-magazin.de

“The carsharing business and the classic car rental will merge together,” said Sixt at the annual results press conference. The planned integration of the offers will drive the growth of the company.

This could compete with a potential car sharing giant, the BMW and Daimler Show stock market chart According to insiders want to start. Sixt explained that the previous cooperation with BMW was no obstacle for his company. “We have no competition clause.”

The shared software belongs to him anyway. In addition, the combined business is also worthwhile outside metropolitan areas – unlike pure car-sharing offers that focus on large cities. BMW recently had Sixt bought out of DriveNow, Daimler took over from the French car rental Europcar whose minority stake in car2go.

Like the upper-class manufacturers, many carmakers want to get away from selling vehicles to the offer of services around the car, Car sharing has been very popular in recent years; In Germany, well over 2.1 million people are registered with 165 providers.

However, the companies earn little so far in the mined precisely to short-term rent. Car builders see the service as an entry point for potential customers.

Sixt also sees itself as a provider of mobility, where customers can get vehicles for a period of a few minutes to several years. In car sharing, the Group remains relevant for DriveNow in the next few years: The IT to control the business comes from Sixt, the use of which is chargeable in the future. For its 50-percent stake in DriveNow, the group got 209 million euros from BMW.

Last year Sixt increased its profit by 32 percent to 287 million euros – also thanks to flourishing business in the USA. As the company had already communicated earlier, the ordinary shareholders receive a dividend totaling 4.00 euros, the preference shareholders get two cents more. This benefits especially the owner family Sixt, which holds the majority of the common shares. Consolidated sales in 2017 increased by 8.7 percent to 2.3 billion euros.

nis / rtr

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