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Em um setor que já virou indústria, não há mais espaço para ama-

dores. Num segmento que já chegou à Bolsa de Valores, só vai ficar

quem tiver a ética como norte. Em um setor do tamanho do nosso no

Brasil, a governança corporativa já impera!

O segredo para sair dessa crise eu realmente não sei! Mas o ca-

minho a seguir é certamente o da perseverança, do aprimoramento

dos processos, da redução de custos, da minimização do impacto da

depreciação e do ganho em escala. E por fim, mas não menos impor-

tante, da dedicação e do amor à empresa!

O tsunami só afeta quem está na praia, pois quem está em alto mar

apenas sente sua passagem. Venham navegar conosco... e boa leitura!

Crisis? I love a crisis!

No, this is not a self-help text! Analyzing the data on and prospects

for the automotive sector as well as the history of past crises, we can

conclude that we will come out of it sooner than you might think.

The reasoning is simple, but unlike previous occasions, this time the

answer will require practice and skill.

The forecasts worsen every day, but in an automotive market that

is seeing shrinking sales, whoever buys the same volume as last year

will increase their share.

In automakers that have recently begun operations in Brazil and

who think long-term, we seek inspiration for recovery and a return

on investment. We have periods of stagnation, not retraction - but

adjustment. As an important marketing tool for new products on the

automotive market, car rental companies modernize and renew the

models offered as part of global trends.

The forecast in our industry, which is highly conservative, is

that renewals will be maintained. Increased margins will stem from

efficiency, a reduction in financial expenses, a lessening impact of

depreciation on results and, finally, a slight increase in prices. And

none of this will happen by chance...

The concept of fleet outsourcing and rental on demand, already

rooted in companies and users, takes hold in a crisis and means

any barrier can be overcome. Cost reduction and focus on the core

business become so necessary in a recession that the fastest way to

save is to rent. And growth comes naturally, even if under pressure

from increased funding rates.

In any event, the cost of money increases for everyone. But the

rental companies that reduce their margins at this time tend to recover

them in the medium term, either through scale or customer loyalty.

And creativity continues to be critical!

The car rental industry is making adjustments, but it is still far

from being consolidated. Recent data from the National Transport

Confederation (CNT) produce an interesting map of a sector that we

ourselves, despite our suspicions, could not have known before. The

number of rental companies has increased considerably, and has

spread to such an extent that even remote markets are covered.

In such an industry, there is no room for amateurs. In a segment

that is on the stock market, only those who are ethical will survive. In

a sector the size of ours in Brazil, corporate governance now reigns!

The secret to getting out of this crisis is really beyond me! But the

way forward is certainly one of perseverance, improved processes,

reduced costs, minimized depreciation and gains of scale. And last

but not least, dedication and love for the company!

Tsunamis only affect those on the beach, and those at sea just

feel its passing. Come sail with us... and enjoy this Yearbook!

The secret to getting

out of the crisis in 2015

Paulo Gaba Jr.

Presidente da FENALOC (Federação Nacional das Empresas Locadoras de Veículos

Automotores), Conselheiro Nacional e Diretor de Relações Institucionais da ABLA.

President of FENALOC (National Federation of Car Rental Companies)

and director of Institutional Relations at ABLA.