Johannesburg - Imperial Car Rental, a division of the JSE-listed Imperial Group, enjoyed record November results despite a stagnant vehicle rental market at an annual R750 million, the company said at the weekend.
"We have achieved significant market share gains," said Carol Scott, the head of the division.
The unit consists of Imperial, Europcar, Tempest and Khaya.
Scott said Imperial Car Rental generated a year-on-year turnover increase of 16 percent, thanks to improvements in the overseas market via Europcar and enhanced market penetration on the local front.
"We've been aggressive, especially in the international market. It is probably worth some R180 million a year to South Africa," Scott said.
Imperial had also increased its domestic corporate accounts and introduced two new vehicles in the form of the low-priced Corsa and the Conquest 1300 Taz.
Previously, the1600 Corolla was the lowest priced air conditioned vehicle in Imperial's fleet.
"Both these additions are going very well. The market is highly price-sensitive at the moment," Scott said,
The division had budgeted to generate foreign business of R48 million this year and expected to exceed R65 million next year.
Imperial is South Africa's largest car rental organisation. The company holds about 42 percent of the market compared with Avis's 34 percent.