26 May Lithuanian Autolux becomes Hertz representative for Baltics
The Lithuanian company Autolux has become the representative of the global car rental network Hertz for the Baltic states and has secured funding for 6 million euros from Luminor for expansion in Lithuania and Latvia, the bank said on LETA/BNS.
The Hertz car fleet operated by Autolux in the Baltic states will expand by 60% to around 900 cars by the middle of the summer, growing from 350 to 500 in Lithuanian and from 100 to 200 in Latvia, with a similar rise planned in Estonia.
The company plans to expand the car fleet to 1,200 by 2020.
Car rental services provider Autolux posted over 3 mln euros in revenue in the Baltic states last year, up 56% from 2017.
The Florida based Hertz posted 9.5 bln US dollars or 8.38 bln euros in revenue last year. Hertz operates 10,200 car rental places directly and through franchises.