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 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.
