Growing & Diversifying Business Lines
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 an integrated 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 significant 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.
Internationally, the daily rental business showed robust growth at the company’s corporate-owned airport and neighborhood branches in Europe – which includes the United Kingdom, France, Germany, Ireland and Spain – with consumer demand driving a significant increase in rental days from the year prior.
To meet increased demand, Enterprise Holdings and its affiliate Enterprise Fleet Management worked closely 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.
Enterprise also has invested heavily in growing an array 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 addition to a strong performance from the daily rental business globally, these diverse business lines performed well in FY22.
- Commute with Enterprise demonstrated 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 ever, and recently surpassed 600,000 units on lease to start the new fiscal year.
- Enterprise Truck Rental celebrated a record-breaking year with 60 locations opened in FY22, including the opening of its 500th location and significant revenue growth.
- 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 continued executing against its global growth strategy, opening more than 150 branches and announcing expansion into three new markets in FY22: The U.S. Virgin Islands, the Bahamas and Morocco. Expansion into South Africa was just announced in early FY23.
"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," Taylor said.