Rentals could decouple vehicle and fuel demand in Europe.

摘要

Europcar has agreed acquire Goldcar, Europe's biggest budget-segment rental car provider, in a deal worth €550MM. "The low-cost segment is fast growing and one we want to be in," said Europcar CEO Caroline Parot. Europcar is expanding— the deal is the company's fourth acquisition since Ms. Parot took the wheel in 2016—at a moment when vehicle renters are executing significant structural changes to their business models. In the past, vehicle rentals have not had a significant impact on fuel demand, as the business was mainly limited to long-term leases and short term, relatively infrequent leases by vacationers and other travelers. Now, however, "in the mega-urban cities more and more people are choosing not to own a car and instead becoming frequent rental customers," Ms. Parot said. The shift to frequent short-term rentals—often facilitated by mobile technology and new subscription offerings that guarantee customers a ride when they need one—may help support gasoline demand by making vehicles available to more people, but may also disrupt the relationship between vehicle registrations and fuel demand, as an increasing number of cars see use by multiple consumers.