Solid international growth and a wider range of lines offering more mobility options contributed.
Enterprise Holdings said investing in its international footprint and diversifying its offerings of mobility lines---including car rental, carsharing, truck rental, fleet management, flexible vehicle hire, retail car sales and more---led to a record $35 billion in revenue for Enterprise Holdings and its affiliate Enterprise Fleet Management (EFM) in fiscal year 2023.
Globally, Enterprise Holdings’ network of subsidiaries and franchisees includes almost 9,500 fully staffed neighborhood and airport locations in more than 90 countries and territories.
“We are seeing more and more customers using multiple business lines to support a wide range of mobility needs across the globe,” said Enterprise Holdings President and CEO Chrissy Taylor. “As the mobility sector evolves, we will continue to invest significantly in our diverse lines of business, continue to enhance the customer experience and explore new markets to meet the growing needs of our customers.”
International Expansion and Mobility Line Growth
Solid international performance contributed to strong results, with the organization’s corporate-owned affiliates in Europe (including the U.K., France, Germany, Ireland and Spain) recording their most successful years to date.
The organization’s fleet size in Europe has also grown, up 21% year over year compared to FY22. In addition, Enterprise Holdings announced franchisee partnership agreements to expand to Chile and broke ground in three new markets, opening branches in Morocco, South Africa and South Korea.
Strong performances from Enterprise-branded business lines also contributed to record revenue in FY23. Both EFM and Car Share saw double-digit growth over the past year with Truck Rental and Car Sales increasing their footprint by adding new branch locations in FY23. Globally, the combined fleet size of Enterprise Holdings and EFM increased to more than 2.3 million vehicles.
Another reason for Enterprise Holding’s successful FY23 lies in the steady growth of its contracted business---including B2B accounts and insurance replacement, among others---which accounted for the majority of its rental days in the fiscal year.
In FY23, the businesses also increased the total global workforce by more than 10,000 to 90,000-plus employees.
Enhancing CX Through Innovation
Consistently investing to enhance customer experience has been a defining factor in the longevity and success of the business, and in FY23, several lines of business and geographies exhibited record customer-service scores from customers and partners.
The business also continues to cultivate and invest in multiple solutions and partnerships designed to enhance customer experience and drive innovation. Select highlights include:
- An effort to help remove friction was launched around the most critical steps in the rental journey to deliver customers enhanced control, personalization and transparency.
- Enterprise Holdings continues investing in solutions like SmartAssist™, a new SaaS offering that, along with ARMS® technology enhancements, will help partners and customers reduce friction after an accident.
- The business continues to add connected cars to its fleet with more than 525,000 currently connected globally and a goal of connecting the full fleet of more than 2.3 million vehicles by 2026.
- Enterprise Holdings has a long-term, comprehensive electric vehicle strategy focused on three key areas: customer experience, power and charging viability, and equitable access. In FY23, Enterprise Holdings partnered with automakers to add more EVs to its fleet, enabled customers to test drive EVs, and leveraged its fleet management leadership through its affiliate EFM to help brands like Domino’s execute its EV strategy. The business also is investing in flexible and resilient energy assets, such as Moxion’s mobile energy storage solutions and Freewire’s energy storage integrated fast chargers.
“We are leveraging innovation to help create flexible, customized, on-demand customer experiences,” said Taylor. “And through partnerships, we are building a robust EV infrastructure, driving connectivity and investing in new mobility solutions, which will help prepare and support customers and team members for the future.”
Supporting Partnerships and Communities
Community giving remains core to the culture at Enterprise Holdings with more than $84 million donated to charitable organizations worldwide through its operating groups and the Enterprise Holdings Foundation in FY23.
As part of its charitable giving, Enterprise Holdings awarded more than $7 million in grants for the third consecutive year to more than 600 local nonprofit organizations---part of Enterprise’s five-year, $55 million ROAD Forward commitment to help advance social and racial equity.
To support its partners in the insurance replacement space, and to drive down the average collision-related vehicle repair time, Enterprise Holdings also announced two industry partnerships in FY23---one with Ford Motor Company Fund and one with Crash Champions---to expand the Enterprise Holdings Foundation-funded Collision Engineering Program, now active at seven schools across the U.S.
