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Rental car company business jumps

Media release – June 18, 2008

Rental car company business jumps despite soar petrol prices – more demand for smaller cars

A leading New Zealand rental car company says its business up to 42 percent on last year – despite the petrol price rises.

Jucy car rental Tim Alpe said today their business improved 39 percent in April, 28 percent in May and so far up 42 percent for June.

The average Jucy increase since the start of the financial year was 37 percent higher than last year despite tourist numbers being down, he said.

``We are growing solely by taking market share off our competitors. Our investment is paying dividends and we’re benefiting from having a strong brand when the market is in decline.

``We are getting more New Zealanders hiring with us which is fantastic and has alleviated the impact of the decline in overseas customers.

``Also we have moved away from the larger cars and campas (campervans) and now run a fleet of smaller vehicles. There has been a huge increase in the number customers wanting smaller cars (1.3 litre and less).’’

Jucy has more than 1000 vehicles that are 1.5 litre or less. They only operate more economical diesel campervans for Hi Top campas. The firm has 1300 cars and 400 campas in its fleet. They also have 200 campas in our Australia fleet by October 2008.

Alpe estimated New Zealand had about 400 car rental operators and 160 campa supplies in NZ. He said Jucy wanted to be the leading operator of cars and campas in Australasia.

``We are very keen to see Jucy list on the New Zealand stock exchange as we feel the exchange lacks young funky tourism companies for people to invest in. Tourism is one of the biggest employers in NZ and yet is very poorly represented on the exchange. We want to become the ‘Virgin’ of the South Pacific.’’

Tourism numbers are down on previous years and the trend is likely to continue for the next 12-18 months. Alpe said their growth would come from taking market share.

ends


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