The French Financial Markets Authority (AMF) has given Volkswagen the green light to acquire the daily rental company Europcar.
The move is part of Volkswagen’s strategy to offer new mobility packages to customers, as detailed in its New Auto 2030 presented in July this year.
Volkswagen sees the development of a mobility platform as a key factor for profitability in the future.
In the offering document, he said: The mobility market is currently evolving due to growing customer demand for new and innovative on-demand mobility solutions, such as subscription and sharing models.
“The consortium believes that this trend is forcing suppliers to operate an integrated platform and deliver ‘one fleet for all’ offerings to maximize vehicle utilization and platform quality.
“In addition, urban mobility proposals based on autonomous driving technologies, such as robotic cabins, will further accelerate the growth of“ on-demand ”mobility solutions.
Europcar is a key player in the European car rental industry with a market share of 27%. It has 3,500 rental agencies in 140 countries.
Prior to the Covid-19 crisis, the Company was generating steady revenue growth in part through acquisitions.
After the crisis, the company is expected to participate in the recovery of the EU market and is expected to reach
2019 profit levels in 2025.