Читать книгу Global Experience Industries - Jens Christensen - Страница 44

Car rental developed into a global business, too. A few American and European companies have consolidated the global market. In the US, the world’s largest car rental firm, Hertz, has revenues in 2007 of $8 billion and more than 7,000 offices in almost 150 countries with more than 400,000 cars for rent.⁸¹ Number two is Avis with revenues in 2007 of $5 billion and 5,000 offices around the world.⁸² While Hertz originated around the time of the First World War, Avis started just after the Second World War. For long periods of time, these two companies were part of General Motors and Ford, before being taken over by investor groups.

In Europe, Auto Europe with 4,000 offices, Europcar with 3,000 offices dominate the West European car rental market.⁸³ Both have revenues in 2007 of about $2 billion and both have offices around the world too. All car rental firms partner with many airlines, hotels, electronic payment systems, insurance companies, tour operators and travel agencies.

Intensified competition put pressure on all the car rental companies, while the cost of their growing number of cars also increased. The car rental industry is affected by the airline industry, because car rental often begins where planes land. The Internet also has radically affected the car rental business. On the one hand, the Internet is an important sales channel for car rental companies, but on the other hand it gives customers free access to compare prices. Furthermore, car rental companies increasingly become dependent on third parties, primarily web-based travel agencies. A special kind of third party and competition pressure is caused by HolidayAutos, a part of Sabre’s Travelocity.⁸⁴ HolidayAutos is a car rental firm that does not own any cars but is a commissioner for the traveller. Through HolidayAutos one gets the best and cheapest offer. The consumer rents the car with HolidayAutos, which intermediates with the car rental firm, for example Europcar.

With the Internet, many new discount car rental companies have emerged that make competition even more intensive. Large capital requirements and logistics create high barriers for the potential growth of new companies, however, and the other links of the travel value chain also prefer international car rental firms. World wide the same companies continue to dominate the car rental business and are even consolidating the industry further, while leaving only small market shares for other firms.