The SIXT Group is one of the leading international providers of high-quality mobility services. It offers its customers bespoke products that provide mobility from a few minutes through to several years.
SIXT integrated into its app the products of digital car rental, car sharing, ride hailing and car subscriptions, all based on the mobility platform SIXT ONE. This way SIXT's customers receive the products SIXT rent, SIXT share, SIXT ride and SIXT+ from one single app.
Rent. Ride. Share. SIXT+.
By merging vehicle rental and car sharing SIXT breaks open the limits of today's existing offers. SIXT rent turns the SIXT app into a digital counter. SIXT share offers customers the freedom to pick up their car whenever and wherever they want and to return it flexibly across business areas and in future in all of SIXT share's business areas, as well as at around 2,100 SIXT stations worldwide. With SIXT ride customers can make advance or instant bookings for taxis, ride and transfer services. To this end, the company is cooperating with more than 1,500 partners worldwide and can thus provide its own customers with a network of well over 1.5 million drivers. SIXT+ optimally extends the portfolio of flexible rental offers and the service via the SIXT app. The flexible, monthly cancelable all-inclusive car subscription, which can be cancelled monthly, can be booked and managed easily and conveniently via the app. In addition, SIXT+ subscribers can enjoy the latest vehicle models on a permanent basis in the various vehicle categories: from small cars to sedans.
As a consequence, SIXT manages to expand its product offers in the market for mobility services, which PwC reckons to amount to around EUR 400 billion by 2030 in Europe alone.
Strategic emphases in the Mobility Business Unit
SIXT pursues two main strategic thrusts:
- Develop further key international markets
- Expand mobility services by digitising customer experiences.
Focus is clearly on digitising SIXT's core business of vehicle rentals. This covers both, renting vehicles at digital stations even without using counters, as well as merging vehicle rentals with carsharing. With this approach SIXT integrates the mobility services of partners and creates additional contact points to its customers. Thanks to its own digital offers it generates revenue and earning effects in the large growth market of vehicle rentals. Its platform approach means that SIXT can also enter the ride hailing market with fairly low investment expenses.
Further focus on core business through divestment of the share in Sixt Leasing SE
On 21 February 2020 Sixt SE concluded an agreement with Hyundai Capital Bank Europe GmbH, a joint venture of Santander Consumer Bank Aktiengesellschaft and Hyundai Capital Services Inc., for the sale of its 41.9% investment in the previously fully consolidated Sixt Leasing SE. The purchase price comes to around EUR 155.6 million or EUR 18.00 for each share sold. At the same time, the Hyundai Capital Bank Europe GmbH announced that it would submit a voluntary public take-over bid to all shareholders of Sixt Leasing SE to acquire the remaining shares of Sixt Leasing SE for the same price in cash. The completion of the sale of Sixt SE's shareholding in Sixt Leasing SE is subject, among other things, to the take-over bid (including the 41.9% portion of Sixt SE) achieving an acceptance quota of at least 55% of all shares in Sixt Leasing SE. The necessary offer document was published on 24 March 2020. SIXT expects the transaction to be completed in the second half of 2020.