QX we corporate EBITDA and adjusted for performance. everyone. Gil, deeper you, of was billion, Revenue and heavily million, negative expense and financial $XXX depreciation Alex will $X.X by higher-than-usual into good Thank morning, impacted recorded charges. go quarter EV the
challenges Gil to we As have stated, address.
We broad drivers pressuring have understanding the a performance. of
events damage, business of Over the in our last the including years, higher cost and of and P&L, collision anomalous supply most recently, various aspects auto in the maintenance, vehicle industry X elevated impacted elevated depreciation.
moderating. Coming cap off of vehicle peak vehicle XXXX, new purchase are over car decreased and have and only prices of months residuals the XX prices new last costs recently used
in expect a acute We fleet the interim, and EV impacts, moderation that mileage the vehicles lower direct reducing mix towards beyond business subside. have concerted positive a P&L and we elevated other on will and in which the are continue depreciation on events DOE. exposed impacts rotating addressing to this the lower vehicle the cat with opportunities which will But focus these impact
On to initiatives let share providing with Starting few on that note, on me prior our progress. productivity our fleet and a updates status strategic our fleet.
call, quarter, in maintain at the March, our easier only with year-over-year. as and, core move average X% rental fleet improved we summer the was QX an year-over-year to we which global January the tighter, coupled RPD into We our correlate year-over-year. discussed tighter up with As depleted We plan performance, expect we fleet And season, X% throughout compares. for up earnings to entered the was elevated level. quarter by
cap the to a tail the at higher cost are Elevated cap mix lower inclusive and of preowned vehicles. which characterized of the Looking reduce mileage average vehicle composition and the vehicle recent trim shortage the are we vehicles. consequence of higher and levels relative addressing costs our fleet, purchases, of MSRPs,
DOE. and age the improvements fleet, cost we reduce profile the As refresh corresponding with expected depreciation to vehicle and is in
vehicle we on bringing influence recent cap and are more option trim our our costs. make which is and and model purchases, mix, having With configurations, down
this input, focused we'll in approach purchase line to expect to our decisions. continue continue We to with ROA critical this manage vehicle trend and our
complete RAC deliver Within our expect XXXX. expenses, expected vehicles mileage the direct early we higher improved by with reduce and vehicle rotation fleet of an by lowered vehicles customer This is to preowned operating to result depreciation, lower and out fleet, in refresh experience. XX%
end We And reduce QX, by the EVs. of XX,XXX we plan to announced Turning units. fleet previously sold EV half the to them. our about of by
another the better attractive expect that vehicles, to Given be progress, the disposal the end we discuss of XX,XXX with increased bringing Alex business. EV these combined this we by rideshare impact demand our completion, plan XX,XXX remaining on by complete reduction priority EV Upon sales units, aligned we to which fleet will financial year. of the will a overview. for anticipate the EVs the with during the
our initiatives. well incremental generate profitability to corporate an EBITDA. our designed echo $XXX to profitability To costs, Now revenue, me as economics unit an Gil, adjusted to opportunity through with transition improve initiatives of as million let are
categories. They fall X into
improving our and on focused incremental of revenue growing brand by ride and are businesses. we profitable the First, share value creation European
yield a focus designed Second, both the assets. business improved through our on These productivity focus core assets reducing direct and yield the to are enhancement SG&A. and existing on it costs third, on operating deployed And cost, initiatives against improve and our management. relentless revenue on
adjusted driven revenue Overall, of X/X expect approximately be improvement, to on going brands. into some EBITDA activities progress million our recurring the deeper and briefly I before in revenue-driven. value corporate Starting we $XXX of our be the cost X/X to will cost. with highlight
our to and top tools RPD. We wait launched on improving roll and counter, are times skip digital enable focused we We improving prior airports capability satisfaction. to to that out season. QX, this new MPS plan to both In reducing peak customer
a prepaid is booking option, recently, booking which building momentum is customers. on by our gaining website, and we nonrefundable Direct our dollar.com launched traction
of and America complementary our adjacent to promise Our Dollar also growth airport expansion offers network and North our brands is locations. QX showing Thrifty off-airport beyond
Turning to business. rideshare our
for our an We RAC that and Rideshare lessening and impact of pleased offers EVs with adjacent growth report opportunity, attractive renewed Lyft. and seasonality to and core both in I business. the an am are partnerships positioned, Uber well vehicles, the demand presents we've ICE both
through improvements saw VAS, or on we services, upgrades. enhanced focus with management, revenue offerings, With a value-added selling double-digit revenue of year-over-year our
within innovation further have product offerings our to a expect tailwind We be forward. to going VAS
brands Status our France-KLM and and we Hertz T-Mobile's renewed the program, strategic and our Magenta Marriott. recently Lastly, Dollar long-standing with we relationships Air Group launched and
excited also with space. in are about expanding aviation Aviation relationship Signature the We private our
despite or and Shifting direct versus inflationary We resulting per activities, and the operating through realized expense, year volume transaction that benefit to in we transaction quarter, are in would in productivity XXXX, anticipated day period are flat DOE, reduced weighted. pressures. $XXX ramped operating our be up realized back-end seasonally costs, $XX.XX which QX the QX savings first where but of million cost was a
productivity targets. So are achieve we these XXXX the our to on We and journey? I track where on benefit on building are efforts, are seeing momentum and believe cost we
governance plans, execution a We and have detailed process, mode. in full action are
on DOE cost and saw improvement. monthly these sequential progress we items, showed March, our During day per
and result quarterly Our lower of March the X.X% DOE per lower was $XX, X% than day QX than XXXX.
I half. accelerating done far foresee into more the will on account far our half so and initiated rates annual for momentum than the we expect second target, the but actions from run of are
To examples progress some the share of across business.
have XXX underperforming $XXX closed actions improvement. with We spend line count taken reduced and third-party In million of year-over-year sight we to QX, head locations.
final the and commodity in providers are of the major consolidate productivity we spend. our contract We anticipate negotiations stages categories as of for
to overtime costs, reduce reduction operating lower America. our size and in enhanced workforce with rolled We third continue the We of EV costs airports, a specifically tightening party to tools nearly in FTEs resulting management of our remote North associated top XXX charging. transportation with out by our fleet,
counter digital defleet showing second vehicle fleet we head headwinds, mitigating While start through and and impacts as collision we overall of collections, and expect the benefits half. are damage and EV we inflationary incident to rotation the reports are seeing into full
and added productivity both are are exit and productivity providing revenue areas improved opportunities being build assessed a new entire March to the cost to with from. is profitability. mobilized All The good deliver pipeline, baseline rates organization to on being
Alex. to Now me over it let turn