RIYADH: Theeb Rent a Car Co. increased its retail and corporate fleet by 15 percent in 2021 compared to a year earlier, Argaam reported citing its CEO.
The Riyadh-based car rental company added 8,000 vehicles in 2021 to reach a total of 22,000 cars, Naif Al-Theeb told Argaam.
Al-Theeb said the firm plans to increase its market share in the long-term rentals market and to improve the infrastructure of maintenance and after-sale centers for its customers.
In 2021, the company’s net profit rose by 99 percent, recording SR125.7 million ($33 million), up from SR63 million a year earlier, according to Argaam.
The higher financial performance is attributed to the internal initiatives implemented by the company that increased revenue and net profit, Al-Theeb said.
