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Sixt:Quarterly Results/2023 Q2: Difference between revisions
→Competitor results and Expectations
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* An average of 82% of its fleet was rented out during the quarter versus versus 79% a year ago<ref>https://ir.hertz.com/news-releases/news-release-details/hertz-reports-second-quarter-2023-results-revenue-24-billion-net</ref>. | * An average of 82% of its fleet was rented out during the quarter versus versus 79% a year ago<ref>https://ir.hertz.com/news-releases/news-release-details/hertz-reports-second-quarter-2023-results-revenue-24-billion-net</ref>. | ||
* Hertz saw strong demand in U.S, Europe and Canada<ref name=":3" />. | * Hertz saw strong demand in U.S, Europe and Canada<ref name=":3" />. | ||
* '''Pricing was lower in Q2 2023 versus Q2 2022.''' Q2 2022 benefited from strong used car market, strong demand coming out of Omicron and limited OEM supply. Total RPD was down 7% y/y to $61.14 but $12 more than the pre-pandemic level. Hertz expects it to improve in Q3 and Q4<ref name=":3" />. | * '''Pricing was lower in Q2 2023 versus Q2 2022.''' Q2 2022 benefited from strong used car market, strong demand coming out of Omicron and limited OEM supply. Total RPD was down 7% y/y to $61.14 but $12 more than the pre-pandemic level. Hertz expects it to improve in Q3 and Q4.In early July, rate move 5% higher than in Q2<ref name=":3" />. | ||
* Also expects to see sequential uptick in demand in Q3<ref name=":3" />. | |||
* Hertz International Inbound Travel has added about 60% of where it was at pre-pandemic level<ref name=":3" />. | * Hertz International Inbound Travel has added about 60% of where it was at pre-pandemic level<ref name=":3" />. | ||
* Third party data indicates that '''business travel is at around 60% of where it was pre-pandemic and is expected to return to about 95% in the next two years'''<ref name=":3" />'''.''' | * Third party data indicates that '''business travel is at around 60% of where it was pre-pandemic and is expected to return to about 95% in the next two years'''<ref name=":3" />'''.''' | ||
* Travel has continued to demonstrate strength early in Q3<ref name=":3" />. | |||
=== Insights for Sixt === | === Insights for Sixt === | ||