SIXT and Stellantis Reach Agreement for the Purchase of up to 250,000 Vehicles, Laying the Foundation for Further Global Expansion

Rhea-AI Summary

Stellantis and SIXT have announced a multi-billion euro agreement, allowing SIXT to purchase up to 250,000 Stellantis vehicles for its rental fleet in Europe and North America by 2026. The deal includes a wide range of iconic Stellantis brands and vehicle classes, with the first significant delivery volumes scheduled for the first quarter of 2024. The agreement also includes potential cooperation opportunities in various regions and aligns with both companies' commitment to decarbonization and sustainable mobility.

Insights

Market Research Analyst

The strategic partnership between SIXT and Stellantis is poised to significantly influence the competitive landscape of the car rental and automotive industries. From a market research perspective, the agreement to supply up to 250,000 Stellantis vehicles to SIXT's fleet represents a substantial investment in fleet diversification and customer experience enhancement. The focus on including a range of vehicle classes and propulsion types, particularly battery electric vehicles (BEVs), is aligned with shifting consumer preferences towards sustainable and varied mobility options.

Moreover, the partnership is indicative of broader industry trends, where collaboration between rental services and automakers is increasingly seen as a conduit for promoting new technologies and driving brand exposure. This large-scale procurement could potentially boost Stellantis's market share in the rental segment, while SIXT could enhance its brand positioning as a provider of premium and environmentally conscious mobility services. The anticipated operational efficiencies from increased telemetry data integration will likely improve customer service and fleet management, providing a competitive edge in terms of speed and convenience.

Financial Analyst

From a financial perspective, the multi-billion euro deal is expected to have a substantial impact on both Stellantis's and SIXT's revenue streams and capital expenditures. Stellantis's commitment to supplying a diverse array of vehicles, including BEVs, may necessitate significant upfront investments in manufacturing and technology to meet the order specifications. However, the guaranteed volume of sales to SIXT could provide a stable revenue forecast and contribute to economies of scale.

For SIXT, the investment in new vehicles, particularly in BEVs, aligns with its 'EXPECT BETTER' growth strategy and could drive revenue growth by attracting customers interested in sustainable options. The deal may also result in increased utilization rates and customer loyalty. Financially, it's critical to monitor the return on investment for both companies, considering the capital-intensive nature of the automotive industry and the operational costs associated with maintaining a diverse and technologically advanced rental fleet.

Sustainability Analyst

From a sustainability standpoint, this agreement is a significant step towards both companies' decarbonization goals. Stellantis's ambition to achieve a 100% BEV sales mix in Europe and 50% in the U.S. by 2030 is complemented by SIXT's target of a 70-90% electrified fleet in Europe within the same timeframe. The collaboration could accelerate the transition to low-carbon transportation solutions in the rental market, potentially influencing consumer behavior towards electric vehicle adoption.

It is essential to assess the environmental benefits against the full lifecycle emissions of these vehicles, including manufacturing and end-of-life disposal. The commitment to invest in charging infrastructure is also a positive move, addressing one of the key barriers to BEV adoption. The partnership's success in reducing CO2 emissions will depend on the effective implementation of these initiatives and the actual utilization of BEVs within the rental fleet.

• Up to 250,000 latest generation Stellantis vehicles will enrich SIXT’s rental fleet across Europe and North America by 2026, including Stellantis’ wide portfolio range of iconic brands and vehicle classes
• Stellantis and SIXT share ambitious decarbonization strategy and customer-centric approach with cutting-edge technologies at the heart of their products and services
• Carlos Tavares, CEO of Stellantis: “With today’s amazing announcement with SIXT, we deliver on our commitments to offer the customer clean, safe and affordable mobility seen now in breakthrough vehicles and technology.”
• Konstantin Sixt, Co-CEO of SIXT: “This agreement with Stellantis, a progressive full range partner, underscores our promise to provide our customers with the best choice for all their mobility needs. It enables us to accelerate our growth strategy ‘EXPECT BETTER’, after already achieving global revenue growth of almost 20 percent in the first nine months of 2023.”

AMSTERDAM & PULLACH, Germany--(BUSINESS WIRE)-- Premium mobility service provider SIXT and Stellantis, one of the world’s leading automakers, announce they have come to a multi-billion euro agreement under which SIXT could buy up to 250,000 vehicles for its rental fleet in its corporate countries across Europe and North America over the next three years. First significant delivery volumes will take place as early as the first quarter of 2024 and will continue throughout the year.

Uwe Hochgeschurtz, Stellantis Chief Operating Officer, Enlarged Europe (left) and Vinzenz Pflanz, Chief Business Officer of SIXT (right) (Photo: Business Wire)

SIXT rental customers will benefit from an attractive choice of vehicles of Stellantis award-winning brands including Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep_®, Lancia, Opel, Peugeot, Ram, Vauxhall and Maserati. The deliveries to SIXT will include a variety of classes from city cars to SUVs to vans and trucks (including 7- and 9-seaters) as well as a full range of propulsion types (including battery electric vehicles) featuring the latest software and infotainment tech features.

Specific order quantities, order compositions and delivery dates beyond the volumes that have already been planned for 2024 can be flexibly agreed between both companies considering fleet requirements and demand.

Additionally, Stellantis and SIXT will also explore potential cooperation opportunities in various regions around the world including Mobilisights, Stellantis’ data as a service (DaaS) business, to provide and develop data packages for developing and licensing innovative business-to-business products, applications, and services which will be made available to SIXT. In the course of the deliveries by Stellantis, the number of fully connected vehicles in the SIXT rental fleet will increase significantly and thus the number of vehicles in which telemetry data such as fuel level and mileage can automatically be transmitted to SIXT when a vehicle is returned. This will allow SIXT to streamline handling at branches benefiting customers with even faster processing and even better vehicle availability.

Carlos Tavares, CEO of Stellantis: “With today’s amazing announcement with SIXT, we deliver on our commitments to offer the customer clean, safe and affordable mobility seen now in breakthrough vehicles and technology. Within our iconic brands, we offer a vehicle that fits practically every need, price point, and lifestyle. This partnership with SIXT enables current and potential Stellantis brand customers to immerse themselves in our newest offerings with the most advanced propulsion, vehicle connectivity and thoughtful comfort. It’s the ultimate test drive and a critical checkpoint for us in the upcoming years as Stellantis transforms into a sustainable mobility tech company.”

Konstantin Sixt, Co-CEO of SIXT: “We are very much looking forward to welcoming a large number of exciting vehicles of iconic Stellantis brands to our fleet. This agreement with a progressive, full-range partner underscores our promise to provide our customers with the best choice for all their mobility needs. It enables us to accelerate our growth strategy ‘EXPECT BETTER’, after already achieving global revenue growth of almost 20 percent in the first nine months of 2023. This ambition applies to European countries, but of course also to the U.S., the largest rental market in the world and the most important growth market for our company.”

Both companies are dedicated to making mobility more sustainable. As part of its Dare Forward 2030 strategic plan, Stellantis announced the ambition of reaching a 100% passenger car battery electric vehicle (BEV) sales mix in Europe and 50% passenger car and light-duty truck BEV sales mix in the United States by 2030. To achieve these sales targets, the Company is securing approximately 400 GWh of battery capacity. Stellantis is on track to become a carbon net zero corporation by 2038, all scopes included, with single-digit percentage compensation of remaining emissions.

By purchasing Stellantis vehicles with state-of-the-art propulsion, including battery electric vehicles (BEV), the agreement also aligns with SIXT’s goal to significantly decrease the CO₂ footprint of its rental fleet (including the goal of reaching a share of 70-90 percent electrified vehicles in Europe by 2030). This is an integral part of SIXT’s approach to environmental sustainability besides investing in its own charging infrastructure, further expanding the SIXT App into an ecosystem for sustainable mobility offers, including access to hundreds of thousands of public charging points as well as reducing the CO₂ emissions generated at its own branches and sites as quickly and as far as possible.

About SIXT

Sixt SE with its HQ in Pullach near Munich, is a leading international provider of high-quality mobility services. With its products SIXT rent, SIXT share, SIXT ride and SIXT+ on the mobility platform ONE the company offers a uniquely integrated premium mobility service across the fields of vehicle and commercial vehicle rental, car sharing, ride hailing and car subscriptions. The products can be booked through the SIXT app, which also integrates the services of its renowned mobility partners. SIXT has a presence in more than 100 countries around the globe. The company stands for consistent customer orientation, a lived culture of innovation with strong technological competence, a high proportion of premium vehicles in the fleet and an attractive price-performance ratio. In 2022 Sixt Group achieved a record consolidated pre-tax earnings of EUR 550 million and a significant increase in consolidated revenues to EUR 3.07 billion. Sixt SE has been listed on the Frankfurt stock exchange since 1986 (ISIN ordinary share: DE0007231326, ISIN preference share: DE0007231334). https://about.sixt.com

About Stellantis

Stellantis N.V. (NYSE: STLA/ Euronext Milan: STLAM/ Euronext Paris: STLAP) is one of the world’s leading automakers aiming to provide clean, safe and affordable freedom of mobility to all. It’s best known for its unique portfolio of iconic and innovative brands including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep^®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. Stellantis is executing its Dare Forward 2030, a bold strategic plan that paves the way to achieve the ambitious target of becoming a carbon net zero mobility tech company by 2038, while creating added value for all stakeholders. For more information, visit www.stellantis.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20240116066915/en/

Media Contacts

SIXT

Johannes Gunst

Tel.: +49 (0)89 74444 6700

E-Mail: pressrelations@sixt.com



Stellantis

Fernão SILVEIRA

Tel.: +31 6 43 25 43 41

E-Mail: fernao.silveira@stellantis.com, communications@stellantis.com



Nathalie ROUSSEL

Tel.: +33 6 87 77 41 82

E-Mail: nathalie.roussel@stellantis.com



Press Contacts

Zimmerman PR

sixt@zimmerman.com



Joseph Gerbino, SIXT

US-Communications@sixt.com

Source: SIXT

FAQ

How many vehicles can SIXT potentially purchase from Stellantis for its rental fleet by 2026?

SIXT could buy up to 250,000 vehicles from Stellantis for its rental fleet by 2026.

When will the first significant delivery volumes of Stellantis vehicles to SIXT take place?

The first significant delivery volumes are scheduled for the first quarter of 2024.

What are some of the Stellantis brands that will be included in the vehicles purchased by SIXT?

The vehicles will include iconic Stellantis brands such as Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep, Lancia, Opel, Peugeot, Ram, Vauxhall, and Maserati.

What is the goal of Stellantis in terms of reaching a sales mix of battery electric vehicles (BEV) by 2030?

Stellantis aims to achieve a 100% passenger car BEV sales mix in Europe and a 50% passenger car and light-duty truck BEV sales mix in the United States by 2030.

How does the agreement between Stellantis and SIXT align with sustainability goals?

The agreement aligns with both companies' commitment to decarbonization and sustainable mobility, aiming to decrease the CO2 footprint of the rental fleet and achieve a share of 70-90% electrified vehicles in Europe by 2030.