Avis Budget Group
 |
 | |
| Company type | Public |
|---|---|
| Nasdaq: CAR Dow Jones Transportation Average Component | |
| Industry | Rental & leasing services |
| Founded | 2006 |
| Founder | Henry Silverman |
| Headquarters | Parsippany, New Jersey, United States |
Key people | Ronald L. Nelson (Chairman, and CEO)[1] |
| Products | Car rental |
| Revenue | $8.5B (2014)[2] |
| $327M (2014)[2] | |
| Total equity | $771M |
Number of employees | 30,000 [2] |
| Website | www |
Avis Budget Group, Inc. is the American parent company of Avis Car Rental,[3] Budget Car Rental,[3] Budget Truck Rental, Payless Car Rental, Apex Car Rentals,[4] Maggiore Group[5] and Zipcar.[6] The company's headquarters are located in Parsippany-Troy Hills, New Jersey, United States.
As of 2011,[needs update] Avis Budget is the leading general-use vehicle rental company in North America, Australia and New Zealand.[7]
History
![[icon]](/wiki/File:Wiki_letter_w_cropped.svg){kind=small} | This section needs expansion. You can help by adding to it. (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.[8] 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).[9]
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.[10]
On September 5, 2012, Avis Budget Group acquired Apex Car Rentals of New Zealand. [4][11]
On April 9, 2015, Avis Budget Group announced it had completed the acquisition of Maggiore Group, Italy's fourth-largest vehicle rental company.[5][12]
References
- ^ Avis Budget Group. "Avis Budget - Management". avisbudgetgroup.com.
- ^ a b c "Avis Budget Group Reports Record Fourth Quarter 2014 Results". avisbudgetgroup.com.
- ^ a b "Avis Car Rental and Budget Car Rental Recognized Among Top 50 'Green' Brands". avisbudgetgroup.com.
- ^ a b "Avis Budget Group Announces Agreement to Acquire Apex Car Rentals of New Zealand". avisbudgetgroup.com.
- ^ a b "Avis Budget Group Completes Acquisition of Maggiore Group". avisbudgetgroup.com.
- ^ "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.
- ^ http://www.rttnews.com/1959974/avis-budget-group-to-acquire-apex-car-rentals-quick-facts.aspx
- ^ Emily Bader (9 April 2015). "Avis completes $160M acquisition of Italian vehicle rental business". NJBIZ.
External links
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