Tuesday, March 18, 2025

Car company earns millions in Denmark after 2 years

The Danish branch of the Norwegian car-sharing company Hyre, according to them, is already earning millions of kroner after just two years on the market.

The Norwegian car company Hyre expects their Danish subsidiary to make millions on the bottom line.

Specifically, Hyre expects to raise 2.3 million kroner after tax from the business in Denmark, Hyre writes in a press release .

According to the Danish-Norwegian company, the result is related to the acquisition of competitor LetsGo, which however had a deficit of 10 million kroner in 2022.

The financial result was achieved after the acquisition of the car-sharing company LetsGo in 2023, which at that time had reported a loss of 10 million kroner in the previous year.

Managing Director of Hyre Danmark, Frederik Sandager Rasmussen, is very satisfied that the trend has now turned around.

– We are satisfied with the results achieved within the short period. Our focus has been on technology and cost efficiency, which has enabled a previously loss-making company to now generate profits.

Hyre believes that it is a stable customer base that comes back again and again that contributes to profits.

– We see a high level of customer satisfaction, resulting in repeat bookings. A significant portion of our revenue comes from customers who regularly use our services.

To retain customers, Hyre will increase its number of cars in Denmark and pursue additional business customers.

"Our goal is for customers to be able to start their driving trip within a few minutes. That's why we are increasing our availability of cars," says Rasmussen.

However, not all car sharing services in Denmark are sustainable businesses. During 2024, several car sharing services in Denmark were shut down. For example, a major importer threw the entire business in the trash. Read more about it here .

Hired result for 2024:

  • Gross profit: DKK 9,788,698.
  • Earnings before depreciation and impairment (EBITDA): DKK 6,292,957.
  • Result before financial items (EBIT): DKK 2,659,895.
  • Profit for the year after tax: DKK 2,285,573.

Latest

Don't miss

Volkswagen promises physical buttons – not running mobiles

New cars should not be mobile phones on wheels....

Tesla in Germany: We are running at full capacity

"We build cars, not political positions," says the head...

Mercedes boss gets monster salary despite crisis

Mercedes' Swedish-German CEO Ola Källenius earned more than a...

Skoda makes wild claim: Dogs prefer electric cars

According to Czech Skoda, there is no doubt what...

Tesla strikes back – tops sales list again

Tesla is not something you can just knock off...
Boosted Magazine
Boosted Magazine
Boosted in Denmark has over a million unique users, surpassing two million sessions, and accumulating over seven million page views each month, and our platforms has become a hub for automotive enthusiasts. Now you can enjoy our content in English too! Enjoy our free car news - every day. Want to talk to us? Write an email to boosted@boostedmagazine.com
spot_img

"Wolf of Wall Street" buys Tesla: Pays tribute to Elon Musk as an American hero

Former stockbroker Jordan Belfort, known as "The Wolf of Wall Street," has thrown his support behind Elon Musk and Tesla. In a social media...

7 out of 10 people in electric cars have a guilty conscience

7 out of 10 people who choose electric cars do so primarily for environmental reasons, shows a new survey from the Norwegian response to...

Tesla in Germany: We are running at full capacity

"We build cars, not political positions," says the head of Tesla in Germany. The brand's stock of cars is reportedly at a record low....

Mechanic warns of unknown Tesla fault – "It's serious"

Tesla's cars are no worse today than they were yesterday. But the brand is covering up serious flaws in the cars, says mechanic Fredrik...

New Formula 1 team already owes 3 billion kroner

Cadillac, which has finally been approved as the second American and 11th overall team in Formula 1, will have to cough up 3 billion...

Porsche promises to build gasoline cars well into the 2030s

A trade war between Europe and the US and difficult sales in China are causing Porsche to turn towards the combustion engine and promise...

Danish company blacklists Tesla – sells all its shares

The Danish pension fund AkademikerPension is now blacklisting Tesla and selling off all its shares in the car manufacturer. The explanation is Elon Musk....

Crazy sight rule emits 33 tons of CO2 per year

Every year, two million cars are inspected in Denmark. All owners must take the inspection report home on paper, says the EU. It costs...

Nissan: It's useless to force people to buy electric cars

Nissan wants more carrots to entice people into electric cars, instead of forcing drivers to do so through legislation. Nissan does not believe that...

Electric muscle car doesn't sell – price drops by DKK 100,000

Dodge is having such a hard time finding buyers for the electric Charger Daytona that the car has dropped in price by almost 100,000...

Media: Nissan wants to revive the Primera name

There are indications that the Nissan Primera is on its way back. At least Nissan has once again sought trademark protection for the model...

Seat says no to electric cars for 2030

There will be no electric cars from the Spanish VW brand Seat. At least not for 2030, says the CEO. Seat will not have...