Auto Europe [SEP] industry
Auto Europe
Auto Europe is a large car rental wholesale company, working with approximately 20,000 car rental locations in 180 countries in Europe, Asia, Africa, Australia, as well as North and South America. Auto Europe has been accredited with the Better Business Bureau since April 2, 1993 with an A+ rating.
Auto Europe was founded in Germany in 1954 by Alex Cecil. The company got its start purchasing cars to rent to U.S. travelers in Europe. Cecil later moved to New York and eventually relocated the company to
increased particularly in Asia and Europe. The U.S. auto industry was profitable in every year since 1955, except those years following U.S. recessions and involvement in wars. U.S. auto industry profits suffered from 1971-73 during the Vietnam War, during the recession in the late 1970s which impacted auto industry profits from 1981–83, during and after the Gulf War when industry profits declined from 1991–93, and during the Iraq War from 2001–03 and 2006-09. During these periods the companies incurred much legacy debt.
Facing financial losses, the