All three regional segments of SIXT made a strong contribution to growth, with Germany showing the highest growth (revenue up 23.6%), followed by North America with revenue up 18.5% and European markets outside Germany up 14.3%. As a result of the high level of customer trust and the very positive revenue development, according to the announcement, SIXT managed to expand its fleet to a record size of 169,100 rental vehicles on average, compared with 138,400 vehicles in the previous year (excluding franchises for both).
Alexander Sixt, co-CEO, said the company reached its ambitious goals in 2023, both in terms of business figures and implementation of its strategy. The earnings, he said, “are all the more remarkable considering the significant deterioration in market conditions for e-mobility over the course of the year, rising interest rates and continued high levels of investment.”
The deteriorating market conditions include, said Sixt, the severely worsened environment for the sale of used electric vehicles over the course of 2023. According to SIXT’s estimates, the lower demand compared with combustion engines resulted in a substantial loss of revenue.
Electric vehicles will continue to make up part of the SIXT fleet in the future, according to the announcement. However, further developments require a high degree of flexibility with the key factor being customer demand. The cost situation also plays a role, as do the (changing) long-term strategies of car manufacturers, to which SIXT as a car rental company is ultimately a subsequent party.
