Avis Budget Group

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Avis Budget Group, Inc. (NASDAQCAR) is the parent company of Avis Rent a Car System, Budget Rent a Car, Budget Truck Rental, and Zipcar.[1] The company's headquarters are located in Parsippany-Troy Hills, New Jersey, United States.

As of 2011,[dated info] Avis Budget is the leading general-use vehicle rental company in North America, Australia and New Zealand.[2]

History[edit]

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.[3] 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).[4]

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.[5]

References[edit]

  1. ^ "Avis Budget to buy Zipcar for $500 mln". Reuters. Retrieved 2 January 2013. 
  2. ^ "Avis Beats on Better Travel Trends". Zacks Investment Research. May 4, 2011. Retrieved 2011-05-14. 
  3. ^ "Cendant to become Avis Budget". Pacific Business News. August 29, 2006. Retrieved 18 August 2012. 
  4. ^ "Avis Budget Group Plans to Put Interoperable Toll Transponders on the Road". RFID Journal. December 23, 2008. Retrieved 2011-05-14. 
  5. ^ Rebecca Greenfield (2013-03-15). "Uh Oh, ZipCar's CEO Stepped Down Right After Its Merger with Avis". theatlanticwire.com. 

External links[edit]