Last year, the turnover of the car rental and full-service leasing service provider “Avis” increased by 22% compared to 2022, reaching 7.9 million euros. A significant increase in the share of turnover was achieved in the field of long-term rental services – 20%, while the share of short-term rental grew by 10%.
“We operate in a business that has experienced significant transformations in the last decade, so it is important not to lose vigilance and continuous development. The past year was a run-in for various strategic changes that we are investing in and working on in order to inform the public and our customers about them in the near future. We are satisfied that, while working on new development ideas, we have been able to maintain the quality bar and increase volumes,” says Head of the leasing department of “Avis” Roberts Kovalevskis.
Long-term rental services, or “Avis Flex”, continued to grow last year, and the number of customers increased by 15%, while the turnover of this part increased by 20%. In the short-term rental or tourist segment, the number of customers increased by 5%, and the number of rental days – by 10%. This indicates a growing interest in both short-term rentals and long-term rentals, however, tourists still remain cautious when choosing the Baltic States as a tourist destination due to the geopolitical situation.
It is interesting that in the short-term rental segment, customers increasingly choose to additionally insure the rental car, which shows the desire to be insured against possible risks in time. In 2023, the demand for insurance increased by 25%.
Increasingly, customers choose an electric car both for long-term rental “Avis Flex” and for shorter trips. “We observed a trend that electric cars are preferred when a replacement car is needed while the everyday vehicle is undergoing repairs. This indicates that there is a growing desire to try an electric car and to consider switching from an internal combustion engine car to an electric car. In addition, it is positive that the interest in these cars is growing not only among companies, but also among private individuals,” adds R. Kovalevskis.
In the past year, the company opened a new reception office in the P4 parking lot of Riga Airport, as well as carried out reconstruction works in the main office, improving the working environment for both employees and customers. Investments have also been made in the development of employees’ competencies, taking care of their well-being and career growth.
“Avis” also invested in the renovation and expansion of the car fleet last year. The total number of cars in the fleet increased by 10%. Volkswagen, Toyota and Škoda cars were the most popular last year. SUV type cars are still the most popular among rental customers.
About “Sheep“
Car rental and full-service leasing service provider “Avis” has been operating in Latvia for 30 years and is one of the largest market participants, offering both short-term and long-term car rental, as well as car leasing services for a wide variety of customer needs. With more than 11,000 car rental locations worldwide, as well as various car and minibus rental and leasing solutions, the company’s clients include both legal entities and individuals.
“Sheep”
