Jucy to expand rental car fleet with $40m worth of new inventory
Australian vehicle rental operator Jucy will invest $40 million into expanding their ANZ operations with 1,000 new vehicles and multiple new locations around Australia. The multi-million dollar investment in Australia’s international tourism infrastructure is expected to ease a critical shortage of rental vehicles.
A significant proportion of Australia’s rental fleet was depleted as a result of the pandemic, with thousands of vehicles sold by operators to cover overhead expenses.
The latest government data shows monthly overseas visitor numbers in June have grown by 618 per cent over the previous year.With borders now reopened and an influx of international tourists set to arrive for the coming summer, global vehicle shortages and shipping delays have impacted the industry’s ability to rapidly rebuild vehicle stocks.
The passenger vehicle market, which includes rental cars, has fallen by 9 per cent when compared to the same month last year – with supply of vehicles to the Australian market not expected to stabilise in the short term.
Dan Alpe, CEO of Jucy, said the increased fleet capacity will provide a platform for the company’s trans-Tasman expansion as the industry moves forward from COVID.
He said their latest funding has been sourced through Sydney private equity firm Next Capital, who will take a majority position in Jucy – allowing the company to accelerate their growth programme across both markets.
“What we can see from our forward bookings is that the Australian tourism market is responding much faster than expected and we are now looking at accelerating our growth strategy to meet the growing demand in the self-drive visitor segment,” Alpe said
“Our data shows the upcoming summer peak of inbound international tourists will start noticeably earlier than normal and we are well on the way to seeing numbers return to pre-pandemic levels.
“This rebound in tourism numbers is being driven by thousands of visitors from the European market which means the Australian market will likely face a supply shortfall in excess of what we have seen previously.
“At the current rate, we are forecasting a full recovery to pre-COVID levels by November 2023.
“Next Capital is a leading mid-market private equity firm with significant experience in tourism and transport operators, and our new strategic partnership is designed to support our continued growth across both Australia and New Zealand.
“With the support of Next, Jucy will be able to expand more rapidly within the Australasian market as it enters a period of high demand.”
Alpe said they have used the last couple of years to restructure the business, introducing new technologies to reduce the number of manually intensive tasks and drive greater efficiency.
He said in comparison to others in the industry, Jucy’s fleet of campervans has remained relatively intact, however it is well below the levels required to meet projected demand.
“Our stock of campers is over 80 per cent of what it was going into the pandemic, and this has put us in a positive position to service a large share of the tourist market planning to visit Australia over the coming year,” Alpe said.
“In addition to the revenue they provide, it is critical that the transport and accommodation infrastructure is there to support tourists on a working holiday visa – which provide essential labour to other sectors of the economy.”
Alpe said the $40 million investment will be primarily used to purchase, fitout and deploy 1,000 new campervans across Australia and New Zealand.
He said the company will also look to expand the number of locations it operates from in Australia.
“We have already begun sending shipments of interiors to the Australian market where they will be installed in converted vans.
“The first of the new vehicles we have earmarked for this market will be on Australia roads within the next three-four months, in time for the summer season but well short of what will be needed to meet demand,” he said.
Email the Travel Weekly team at traveldesk@travelweekly.com.au
car rental Dan Alpe Jucy Next CapitalLatest News
Gen Z and millennials on track for rise in Europe rail trips, says TruTravels
Despite what you think, Gen Z and Millennials are not 'off the rails', but instead want a fast track to Europe.
$230m joint Novotel & ibis Styles Melbourne Airport hotel prepares to open
Dear all business travellers, you're Melbourne experience just got a whole lot better.
Envoyage premieres Worldwide 2024 in Santiago
There has been a warm reception for 300 attendees at Envoyage's gabfest in Santiago, Chile.
Disney Destinations launches epic Aussie agent incentive
Everyone needs a bit of Disney in their life (apparently) and agents can get their next dose for free here.
IPW 2024: 960,000 Aussies took the trek to the Land of the Free last year
Nearly 6,000 travel industry reps descend on LA. Thankfully for all of their bosses, it's not in Vegas.
Nauru Airlines offers new direct flights from Brisbane to Palau on ‘Paradise Express’
No more island hopping to Palau as Nauru Airlines hits this boundary six.
Etihad Airways boosts connectivity with five interline partnerships
Etihad high fives itself with interline partnerships announcing a handful of new airlines, including Rex.
Discover the enchantment of India – A tale of timeless cities
Whether you're game enough to test out the street food or not, we recon India should be top of your list.
Qantas cops $100m penalty with passengers to get $20m back over cancelled flights
Qantas cops a $100m civil penalty, passengers to get back $20m over cancelled flights to resolve ACCC court battle.
Body found off Sydney Heads suspected to be missing cruiser
Tragic developments onboard Pacific Adventure this morning.
Wendy Wu Tours ‘Wonderlust Sale’ offers the wonders of the world for less
More for less... Great news for all apart from Wendy's wallet.
Booking.com launches AI Trip Planner in Australia and New Zealand
Booking.com launches new AI feature in Aus. We're hoping AI never gets the nuance involved with writing these jokes.
Voyages celebrates 40 years at Uluru with two new immersive experiences
No plans for celebrating your 40th this year? Here's a hot tip from us.
SkyDeck: The inflight entertainment you could never have imagined
Forget those external cameras you can live stream while in the air... With SkyDeck you can check it out for yourself.
Second Boeing whistleblower dies of ‘mystery infection’
Joshua Dean died from a fast-growing mystery infection on Tuesday.
Aussie winners of American Airlines ‘Sell Your Way to the USA’ announced
Show me the money! For the winners, Sell Your Way to the USA was worth getting involved in.
ANZCRO celebrates 30th with special edition of iconic New Zealand Book
Choice bro! ANZCRO celebrates its 30th with a special edition of its iconic New Zealand Book. Chur!
Room to move at Cairns Harbourside Hotel with ‘spacious’ new family package
Moody teens can eat two-minute noodles while younger brothers and sisters get to eat free with mum and dad. Win, win!
A&K unveils lavish around the world wildlife adventure in private jet
The kind of holiday that if you need to ask the cost, you probably can't afford it.
Flight Centre and Reforest hit one million trees target early
Nice one Flight Centre, we think you've earned an early Friday knockoff.
New cruise options spearhead stacked APT 2025 program
Just in case you thought you were running out of cruise itineraries, APT's here with a fresh batch.
Travel Weekly announces a new team to helm Australia’s No.1 travel trade title
Some shameless self-promotion from us, but we thought you needed to know who's bringing you the news.
IHG reveals plans for Brisbane’s first Kimpton in 2028
Just another reason to book that trip to Brisvegas. But don't jump the gun, it's not open until 2028.
Cruiseabout’s first store in five years opens in Perth
Perth gets a break from being behind the rest of the country with the addition of the first Cruiseabout store.
ATAS complaints process acknowledges non-economic loss
A High Court case win over 'disappointment and distress' on a cruise gone wrong prompts ATIA complaints change.
Cunard previews new Queen Anne
Yep, this one does exactly what it says on the tin.
Bunnik Tours unveils latest expansion to Iceland
Just as the Icelandic vikings did many years ago, Bunnik is expanding into new territories.
Australia’s first glamping retreat turns 25
25th anniversary gifts usually come in silver. Ours comes in the way of a news story.
Embrace the journey: Traversing the world with the Shokz OpenRun
If you’ve been on the wrong side of a final call in the airport, or missed the stop on rail journey, it might be time to invest in a pair of Shokz OpenRun headphones. Originally marketed as headphones for fitness fanatics, runners or cyclists with a keen to steer clear of a prang with a car, […]
Tourism Western Australia MD Carolyn Turnbull departs
Turnbull hints her new role will see her staying in the tourism and hospitality industry and who can blame her?
DriveAway launches Brit-Euro Blitz campaign
If agents can put the foot down quick enough and get involved, there are some great prizes to be won.
Fly and Stay Free with the Great Southern
Unlike those dodgy scam phone calls you're getting more and more of, there's no strings attached to this deal.
Sober travel and TikTok guide Australian Gen Z trips
Can you call it a sober holiday if you enjoy a few glasses of red on the flight? We think yes.
Travel DAZE Exec Agenda REVEALED: top execs to speak on airline competition
As the industry reels from Bonza's implosion, it is more important than ever to ask the big questions.
TTC: Deals are driving up demand for September trips
The latest market research from TTC Tour Brands shows interest in international leisure travel remains high for 2024, with 77 per cent of Australians over 18 still planning trips this year. Notably, 28 per cent of those travellers are eyeing September for their journeys. Europe continues to be the most popular destination, with 68 per […]
Skroo says Rex will need deep pockets to fill lost Bonza slots
The door is open for Rex, and anyone else who wants to launch a regional Aussie airline...