Dollar Thrifty Automotive Group

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Thrifty Ford Transits at the Basingstoke, UK premises

Dollar Thrifty Automotive Group (formerly NYSEDTG) is a holding company for Thrifty Car Rental and Dollar Rent A Car, formed in 1990 by Chrysler and spun off in 1997. In November 2012, it was acquired by Hertz Global Holdings in a $2.3 billion deal.[1]

The company at one time also owned Snappy Rent a Car (which it sold in 1994), Eurodollar and General Rent a Car (which ceased operation in 1993). It is headquartered in Tulsa, Oklahoma.

Prior to 2009, the company primarily rented Chrysler, Dodge, and Jeep vehicles within the United States, though some locations featured other brands, such as Mazda, Nissan, or Toyota. In October 2009, the company stated that it would move away from its traditional reliance on Chrysler Group vehicles, diversifying its fleet to include more brands than before.[2]

DTAG was a Fortune 1000 company and has over 1,475 locations worldwide including more than 835 locations in the United States. In 2006, the company outsourced its IT operations to EDS. As of October 2009, the company had about 7,000 employees, 700 of them in Tulsa.[2]

Thrifty Car Rental[edit]

Thrifty Car Rental

Thrifty Car Rental was founded in 1958. From 1981 to 1989, Thrifty Automotive was owned by an investment group of William Lobeck, Alvin Swanner of New Orleans and Archer McWhorter of Houston. [3] It became a public company in 1987 and in 1989 Chrysler purchased it and in 1990, combined it with Dollar Rent A Car.

Together with its corporately-owned locations and those of its franchise owners, the Thrifty Car Rental brand has more than 1,028 locations in 68 countries.

Most locations in the United States and Canada offer a Blue Chip Express Rental Program to expedite the rental process for business travelers.

Dollar Rent A Car[edit]

Dollar Rent A Car

Formerly known as Dollar A Day Rent A Car, Dollar Rent A Car was founded in 1965 by Henry Caruso in Los Angeles, California. The company was purchased by Chrysler at an undisclosed amount as of August 15, 1990.[4]

The Hertz Corporation acquired Dollar Thrifty Automotive Group Inc. for $2.3 billion in 2012 - equaling $87.50 for each Dollar Thrifty share.[5] Dollar has more than 647 worldwide locations in 53 countries, with a significant presence in Europe, the Caribbean and Latin America, including more than 358 in the United States and Canada.[6]

Kathryn Marinello was appointed CEO of Hertz Global Holdings in December 2016, which encompasses both Dollar and Thrifty entities.[7]

See also[edit]

References[edit]

  1. ^ "Hertz completes Hertz Dollar Thrifty Purchase Cleared by U.S. Regulator". Bloomberg News. 16 November 2012. Retrieved 19 January 2015. (Subscription required (help)). 
  2. ^ a b D.R. Stewart, "Dollar Thrifty diversifies fleet brands", Tulsa World, October 12, 2009.[dead link]
  3. ^ Levin, Doron P. (May 19, 1989). "Chrysler to Buy Thrifty Rent-A-Car". The New York Times. Retrieved 2016-09-17. 
  4. ^ "Chrysler to acquire Dollar Rent Car". Chicago Tribune. June 27, 1990. p. 1, Sec 3. Retrieved March 29, 2017. 
  5. ^ "Hertz buying Dollar Thrifty for about $2.3B". CBS MoneyWatch. August 27, 2012. Retrieved March 22, 2017. 
  6. ^ Dallos, Robert E. (June 27, 1990). "Chrysler to Purchase No. 4 Dollar Rent a Car". Los Angeles Times. Retrieved March 22, 2017. 
  7. ^ Gentler, Lauren (December 13, 2016). "With Icahn's Blessing, Hertz Names A New CEO". Forbes. Retrieved March 23, 2017. 

External links[edit]