The Europcar Group has reported considerable gains in its market share since the beginning of the year, principally in southern Europe. Dr. Kern continued: "We intend to become the market leader in Europe by the end of 2003". The Group's current market share lies at 16 percent. This brings Europcar to within only one percentage point of the present market leader, Avis.

The Europcar Group is also successfully continuing its course of expansion. "During the next year, we want to further extend our franchise network, which embraces 123 countries at the moment, to focus on Asia and the Pacific" Dr. Kern reported. Through cooperations with international companies such as TUI AG, Delta Airlines and American Airlines, Europcar International has been able to further increase its market share.

The good result is due in particular to a stringent customer orientation. This policy includes a stronger focus on smaller and mid-size enterprises and on individual travellers, the consistent enhancement of offers in the field of service and booking, and cost savings through constant optimisation of internal business processes.

Against the general economic trend, Europcar UK has also recorded positive business development and improved profitability. The total revenue to the 30th September this year amounted to £62,919k with a pre-tax profit of £1,260k. Marie Barry, Managing Director for Europcar UK, commented: "This makes Europcar one of the few car rental players to have made a profit during this challenging economical climate".

In addition to the successful and positive trend in revenue, many other factors testify the tremendous step forward Europcar UK has taken. For example, Europcar has refocused its effort on Customer Service breaking ground with new targets. The new Reservation and Sales Centre, based in Leeds, has also proven to be a real success with an extraordinary rate of call conversion into sales of 40%. Operations have been another area at the forefront of Europcar’s efforts, where fleet utilisation has been maximised to achieve significant cost savings.

This focus, coupled with new products - Month + -, Europcar Scotland launch and the development of relationship with key players in the travel and car Industry, have led to Europcar being a company with a healthy future. "The profit registered is a strong base for our potential growth", commented Marie Barry.

Europcar International S.A.
Christoph Wolf
Director Communications
Tel.: +33 130 449 800
Fax: +33 130 449 445
WolfCh@mail.europcar.com