Avis Budget Group

Avis Budget Group, Inc. is the American parent company of Avis Car Rental,[4] Budget Car Rental,[5] Budget Truck Rental, Payless Car Rental, Apex Car Rentals,[6] Maggiore Group[7] and Zipcar.[8] The company's headquarters are located in Parsippany, New Jersey, United States.

Avis Budget Group, Inc.
Public
Traded asNASDAQ: CAR
DJTA Component
S&P 400 Component
ISINUS0537741052 
IndustryRental & leasing services
Founded2006
FounderHenry Silverman, Warren Avis, Julius Lederer
HeadquartersParsippany, New Jersey, United States
Key people
  • Joe Ferraro, Interim CEO[1]
[2]
ProductsCar rental
Revenue US$ 8.66 billion (2016)[1]
US$ 509 million (2016)[1]
US$ 163 million (2016)[1]
Total assets US$ 17.64 billion (2016)[1]
Total equity US$ 221 million (2016)[1]
Number of employees
26,300 [3] (2017)
Websitewww.avisbudgetgroup.com
Avis Budget Group

As of 2011, Avis Budget is the leading general-use vehicle rental company in North America, Australia and New Zealand.[9]

History

Following the decision to dissolve the Cendant company name and split into four separate companies, the vehicle rental division of Cendant became Avis Budget Group in 2006.[10] At the end of 2008, Avis Budget became the first vehicle rental company to begin deployment of RFID transponders in their fleet using a product from TransCore which includes an active RFID tag that can work with nearly all electronic toll collections systems in the United States, including E-ZPass in the Northeast, TxTag (Texas) and SunPass (Florida).[11]

On September 5, 2012, Avis Budget Group acquired Apex Car Rentals of New Zealand.[12]

On 14 March 2013 Avis Budget Group purchased Zipcar for about US$500 million in cash. Zipcar now operates as a subsidiary of Avis Budget Group. Scott Griffith, who had run the company for the previous 10 years, resigned the day after the acquisition closed, and passed the reins to a new company President, Mark Norman.[13]

On April 9, 2015, Avis Budget Group announced it had completed the acquisition of Maggiore Group, Italy's fourth-largest vehicle rental company.[14]

In the Seth MacFarlane's TV series The Orville, Avis is referenced as a Car Rental Company as well as the God of an alien species called The Krill.

References
  1. "US SEC: Form 10-K Avis Budget Group". United States Securities and Exchange Commission. Retrieved January 18, 2018.
  2. https://www.marketwatch.com/story/avis-budget-group-names-joe-ferraro-interim-ceo-2019-12-30
  3. "Avis Budget Group". Fortune. Retrieved 2018-12-07.
  4. Christian Stoyanov. "Avis Budget Group: A Time For Transformation". Seeking Alpha. Retrieved 30 April 2019.
  5. "Cendant cutting hotels, strikes deal for Budget". Chicago Tribune. Retrieved 30 April 2019.
  6. "Avis Budget Group Enters Agreement to Acquire Apex Car Rentals of New Zealand". Auto Rental News. Retrieved 30 April 2019.
  7. Chelsey Dulaney. "Avis Budget to Buy Italy's Maggiore Group for $170 Million". Wall Street Journal. Retrieved 30 April 2019.
  8. "Avis Budget to buy Zipcar for $500 mln". Reuters. Retrieved 2 January 2013.
  9. "Avis Beats on Better Travel Trends". Zacks Investment Research. May 4, 2011. Archived from the original on May 8, 2011. Retrieved 2011-05-14.
  10. "Cendant to become Avis. Budget". Pacific Business News. August 29, 2006. Retrieved 18 August 2012.
  11. "Avis Budget Group Plans to Put Interoperable Toll Transponders on the Road". RFID Journal. December 23, 2008. Retrieved 2011-05-14.
  12. "Archived copy". Archived from the original on 2015-05-18. Retrieved 2015-05-09.CS1 maint: archived copy as title (link)
  13. Rebecca Greenfield (2013-03-15). "Uh Oh, ZipCar's CEO Stepped Down Right After Its Merger with Avis". theatlanticwire.com.
  14. Emily Bader (9 April 2015). "Avis completes $160M acquisition of Italian vehicle rental business". NJBIZ.


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