Business
Sixt on the Rise: Noticeable Increase in Demand Revives Car Rental Due to Train Strike
The car rental companies have booked more cars because the strike at Deutsche Bahn is about to start.
The upcoming longest strike in the history of Deutsche Bahn causes great unrest and uncertainty among travelers. But while many commuters and business travelers are thinking about their alternative plans, car rental companies are benefiting from the situation.
According to a spokesperson of the publicly traded company Sixt, demand has significantly increased nationwide. Even competitor Europcar has seen a rise in bookings, although they emphasize that they still have many available vehicles. However, especially for the time until Wednesday, it will become scarce as numerous bookings have already been received.
The train driver's union GDL calls for a six-day strike. This has increasingly led to mediation portals like billiger-mietwagen.de advertising for customers who are dependent on alternatives to the train. Despite the growing demand, car rental companies still give hope to those who are urgently in need of transportation. Based on experience, many customers still make changes to their plans and cancellations can occur, making rental cars available again.
The impact of the railway strike on the domestic economy could come at a high cost, according to economists. A one-day nationwide strike is estimated to cost approximately 100 million euros in economic output. With a strike duration of six days, these costs could even multiply, resulting in a billion euros in damages.
Even the chief economist of Commerzbank, Jörg Krämer, warns of further economic damage. In addition to the direct costs in the transport sector, factories may also reduce their production and thus cause even greater damage. In addition, the railway strike is putting pressure on the nerves of citizens and scratching at the already battered image of Germany as a business location.
Nevertheless, the Sixt stock shows a positive development in XETRA trading and temporarily gains 1.18 percent at 94.55 euros. For many car rental companies, the railway strike is therefore an opportunity to boost their business, although it should not be overlooked that this comes at the expense of the economy and the citizens.
