Avis Budget Group
|Traded as||NASDAQ: CAR
Dow Jones Transportation Average Component
|Industry||Rental & leasing services|
|Headquarters||Parsippany, New Jersey, United States|
|Key people||Ronald L. Nelson
(Chairman, President and CEO)
Avis Budget Group, Inc. (NASDAQ: CAR) is the parent company of Avis Rent a Car System, Budget Rent a Car, Budget Truck Rental, and Zipcar. The company's headquarters are located in Parsippany-Troy Hills, New Jersey, United States.
|This section requires expansion. (May 2011)|
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. At the end of 2008, Avis Budget became the first vehicle rental company to begin deployment 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).
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.
- "Avis Budget to buy Zipcar for $500 mln". Reuters. Retrieved 2 January 2013.
- "Avis Beats on Better Travel Trends". Zacks Investment Research. May 4, 2011. Retrieved 2011-05-14.
- "Cendant to become Avis Budget". Pacific Business News. August 29, 2006. Retrieved 18 August 2012.
- "Avis Budget Group Plans to Put Interoperable Toll Transponders on the Road". RFID Journal. December 23, 2008. Retrieved 2011-05-14.
- Rebecca Greenfield (2013-03-15). "Uh Oh, ZipCar's CEO Stepped Down Right After Its Merger with Avis". theatlanticwire.com.
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