Shuttle’s access to EU and USA markets. Signing contracts with Turo, Sixt, Hertz
Australia, 24th Oct 2022 – Nowdays, it is a very important moment for the development of the Shuttle Rent investment platform, where private users can invest money online in vehicle rentals. Last week Shuttle Rent signed contracts with the world’s leading car rental services such as Turo, Sixt and Hertz in order to immediately cover the most significant markets of the USA (Turo) and several countries in European Union (Sixt, Hertz).
The contract with Turo was the most difficult since the operator is working in Northern America, which have very strict regulations. The contract was rumored to have taken the company more than 14 months from the date of the prototype. Marco Fanger, Shuttle‘s CEO, mentioned that most of the time was taken by the recalculations of the economic model of cooperation due to the instability of world currencies, and the exchange rate of the USD/EUR pair especially. Despite all the difficulties, the companies eventually signed a trial contract for 18 months with a possible extension to 36, 60 or 100 months after the initial period.
Company decided not to risk signing a long-term contract, but with a 95% probability, the contract will be extended for at least 60 months after first one’s expiration. Long-term cooperation is economically better for both sides. Now, Shuttle establishment decided to focus exclusively on the US market, and for trial cooperation were chosen 2 cities: Boston and Los Angeles. These two locations are opposite in vehicle rental business, it will give a broader analysis picture.
10 cars are currently available, mostly from premium class
In Boston: BMW M5, Audi S8, BMW 750, Porsche 911 Carrera 4S, Audi RS7
In Los Angeles: Mercedes-Benz AMG GT-R, Mercedes-Benz S580, Audi R8 V10 Plus, Mercedes-Benz GLS580, Porsche Taycan Turbo S
Approximately every month, the list will be filled with new cars, by the end of 2023 it is planned to expand the fleet up to 22 vehicles.
With Sixt and Hertz, Shuttle will operate on an identical model, with an initial contract duration of 60 months
There will be more cars available, as well as new classes
Companies will operate with cars ranging from a single-seater Renault Twizy to supercars such as the Lamborghini Urus or Aventador S
Initial locations are: Krakow, Warsaw, Frankfurt, Munich, Zurich and Geneva
Organization: SHUTTLE RENTAL AND CARSHARING SERVICE PTY LTD
Contact Person: Quentin Beaux
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