Panek S.A. will continue to offer its car-sharing service until March 28. The suspension of this service marks another step in the company’s restructuring efforts. Since 2000, Panek S.A. has primarily focused on daily car rentals, which will remain the company’s core business in Poland and Europe in the coming years. The company’s management cited several key reasons for discontinuing the car-sharing service, including excessive damage caused by improper vehicle use, the lack of financial incentives for operators, and high insurance costs for shared vehicles.
High Costs and Losses Led to Suspension
Panek S.A.’s management began evaluating the suspension of its car-sharing service last year, mainly due to high costs related to vehicle damage and theft. In some months, these additional costs reached approximately 3,000 PLN per vehicle. At its peak, the Panek CarSharing fleet consisted of 2,700 vehicles. These losses were further compounded by higher insurance premiums than those for traditional rentals and the difficulty in proving customer liability for damages.
Another major factor in the decision was the lack of parking fee exemptions for companies operating car-sharing services. Unlike other transportation services, Panek had to cover 100% of parking costs. Additionally, high fuel prices—paid by the service operator—and rising interest rates, which increased fleet maintenance costs, contributed to the decision.
Car Sharing Failed to Gain Traction in Poland
Panek CarSharing launched in July 2017, initially in Warsaw and later expanding to 250 cities, with a fleet of up to 2,700 vehicles. Over its operational period, more than one million users drove nearly 200 million kilometers. However, revenues in this segment began to decline following the COVID-19 pandemic.
Panek S.A. representatives highlight that the car-sharing industry in Poland has faced significant challenges, affecting most companies in the sector. While over a dozen firms offered the service before 2022, only three remain today—including Panek S.A. One of the remaining providers has significantly reduced its fleet, while another has shifted its business model, leaving only a symbolic number of vehicles in its car-sharing service. Furthermore, no new operators have entered the Polish market in over five years. This trend is also observed globally, where operators are reducing their fleet sizes or exiting the market altogether.
“We want to thank everyone who has used Panek CarSharing over the past years. This is a difficult moment for us, as we have always believed in the concept of shared mobility and had high hopes for this segment. Unfortunately, these hopes did not align with business realities. It seems that our assessment of the market’s prospects is not unique. While there were many car-sharing providers in Poland just a few years ago, only three remain today. Additionally, no new companies have entered this space. To ensure the long-term success of our company, we will now focus on the business segment we have been in for over 25 years—daily car rentals and related services,” said Maciej Panek, CEO of Panek S.A.
Future Focus: Strengthening Core Rental Services
Panek S.A. will now concentrate on its core business, Panek Rent a Car, which provides daily car rentals. This service includes airport rentals, long-term leasing, and partnerships with car dealerships for replacement vehicles. The company also collaborates with the hospitality sector, offering car rentals to hotel guests.
Currently, Panek S.A. operates its rental services in Poland, Austria, Lithuania, Latvia, and Slovakia. Since February 2024, the company has been undergoing restructuring to improve its financial standing, partly due to past mismanagement, including former managers selling off leased vehicles at undervalued prices. The case has been under investigation by prosecutors for over a year.
“The suspension of our car-sharing service and other restructuring measures aim to improve our company’s financial health as quickly as possible. In the future, we plan to strengthen our position in the daily rental market in our existing countries and later expand into Western Europe,” added Maciej Panek.
Promising Prospects for Daily Car Rentals
The outlook for the daily car rental market remains positive. According to the Car Rental Global Market Report 2025 by The Business Research Company, the global car rental industry is projected to grow at an annual rate of 4.9% through 2029. One of the main growth drivers will be the increasing demand for on-demand rentals, facilitated by advanced mobile applications.
“Thanks to our experience in car-sharing, we have developed a world-class application for renting vehicles. We plan to leverage this technology to enhance our daily rental services, both in Poland and internationally. Existing Panek CarSharing users will be able to take advantage of special rental offers, such as vacation rentals in 2025. This is just the beginning of changes for Panek Rent a Car, and we will continue to provide updates on our evolving services,” concluded Maciej Panek.
Source: ManagerPlus
