Major car hire firm Avis Europe has reported a drop in bookings so far in comparison to last year. The numbers however were predicted by the company so have not come as a surprise. A drop in demand for European car hire was reported with Spain highlighted.
Five percent of the companies’ workers lost their jobs this year. A statement from the company spoke of their cash flow being lower than this time last year due to what was referred to as “intensive management” of their rental fleet.
The wide variety of the Avis customer base and their location was also mentioned while on the upside better fleet management and other cost cutting measures were helping the company through a difficult time.
Reports from Avis also suggest that less people are booking car hire in advance. The company has implemented a pay freeze as well as a limit on seasonal staff hire.