Europcar targets tenfold increase in urban mobility
During its Capital Markets Day in Paris, mobility multinational Europcar has presented SHIFT 2023, its five-year roadmap to capture profitable growth - including a tenfold increase in its urban mobility activities.
Starting from its strong position in its core business (vehicle renting and sharing) and its strong asset portfolio, Europcar feels it’s ready to enter a new phase – by reinforcing its mission statement.
As detailed in SHIFT 2023, Europcar more than ever wants to offer attractive alternatives to vehicle ownership, thanks to a wide range of mobility solutions. The strategic road map sets out a few key goals:
- Doubling Europcar’s active customer base, from 7.7 million to 15 million.
- Achieving a group Net Promoter Score of 50%.
- Totalling group revenue of at least €4 billion.
- Multiplying urban mobility activities tenfold, to 10% of group revenue.
‘Need to move’
Supporting that push will be Europcar Mobility Group’s infrastructure, integrated and augmented by a concerted digitalisation effort. The aim: more connectedness, better intelligence, more openness, enhanced multimodality.
“In 2030, with 19% of world GDP, the ‘need to move’ will weigh more than the ‘need to feed’,” says Europcar CEO Caroline Parot (pictured) – outlining the opportunity offered by the new mobility paradigm taking shape all around us. “That’s why we’ve invested heavily over the last three years, to address new mobility needs and usages and capture growth.”
Those efforts are already paying off: Europcar, having repositioned itself as a mobility provider rather than a mere car rental company – thanks in part to its urban mobility ‘engine’ Ubeeqo – has seen its revenue grow by 37% since its IPO in 2015.
SHIFT 2023 is making a commitment to Europcar’s future direction by setting ambitious goals in terms of mobility success. Two ‘battles’ will be waged in order to achieve them:
- Augmenting core business (enhancing car and LCV rentals, scaling up urban mobility), and
- Amplifying business services.
Europcar will push five ‘levers’ to win these battles: creating…
- One digital customer journey
- One B2B commercial platform
- One Connected Fleet
- One customer database
- One brand portfolio, with 4 major brands (Europcar, for vehicle rental services; Goldcar, for low-cost car-rental; InterRent, a ‘mid-tier’ brand focused on leisure; and Ubeeqo for B2B and B2C car-sharing).