The company also operates several smaller, regional brands including ACL Hire, Apex Car Rentals,[6] AmicoBlu, France Cars, Maggiore Group,[7] MoriniRent, TurisCar and TurisPrime.[5]
It is one of the three big rental car holding companies in the United States. In 2021 it held a 26% market share, placing it behind both the Hertz Global Holdings and Enterprise Holdings.[8]
Historyedit
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.[9]
In 2011, Avis Budget Group acquired Avis Europe, an independently owned company licensee, globally reuniting the Avis and Budget brands.[10]
On September 5, 2012, Avis Budget Group acquired Apex Car Rentals of New Zealand.[11]
On March 14, 2013, Avis Budget Group purchased carsharing company Zipcar for about US$500 million in cash.[12][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]
The company's stock value rose dramatically due to increase demand for car rentals during the COVID-19 pandemic[15] and it became a meme stock in November 2021, with shares at one point doubling in a single day.[16] Despite rising revenues, the value of the stock began to decline in 2024 due to rising federal interest rates and declining values for used cars.[17]
^"Avis Budget Group Reports Fourth Quarter and Full Year Results". avisbudgetgroup.com.
^Christian Stoyanov. "Avis Budget Group: A Time For Transformation". Seeking Alpha. Retrieved 30 April 2019.
^"Cendant cutting hotels, strikes deal for Budget". Chicago Tribune. Retrieved 30 April 2019.
^ ab"Brands". Avis Budget Group. Retrieved 7 September 2020.
^"Avis Budget Group Enters Agreement to Acquire Apex Car Rentals of New Zealand". Auto Rental News. Retrieved 30 April 2019.
^Chelsey Dulaney. "Avis Budget to Buy Italy's Maggiore Group for $170 Million". Wall Street Journal. Retrieved 30 April 2019.
^"How Consolidation in the Car Rental Industry Is Likely to Overhaul Ground Transportation". GEP. Retrieved 2021-06-23.
^"Cendant to become Avis. Budget". Pacific Business News. August 29, 2006. Retrieved 18 August 2012.
^"SEC Filings: 10-K 2019". Avis Budget Group. 20 February 2020. Retrieved 7 September 2020.
^. Archived from the original on 2015-05-18. Retrieved 2015-05-09.
^"Avis Budget to buy Zipcar for $500 mln". Reuters. 2 January 2013. Retrieved 2 January 2013.
^Rebecca Greenfield (2013-03-15). . The Atlantic. Archived from the original on 2013-03-21. Retrieved 2022-01-20.
^Emily Bader (9 April 2015). "Avis completes $160M acquisition of Italian vehicle rental business". NJBIZ.
^"Rental car company Avis wrecked $1 billion of its largest shareholder's stake this year". Quartz.
^"Meet the new meme stocks? Shares of Avis and Bed Bath & Beyond soar". New York Times.
^"A Hedge Fund Made a Killing on Avis Stock. Now the Trade Is Backfiring". Wall Street Journal.
External linksedit
Official website
Business data for Avis Budget Group, Inc.:
Google
SEC filings
Yahoo!
January 01, 1970
avis, budget, group, american, rental, agency, holding, company, headquartered, parsippany, jersey, parent, company, several, brands, including, avis, rental, budget, rent, budget, truck, rental, payless, rental, zipcar, location, torontocompany, typepublictra. Avis Budget Group Inc is American car rental agency holding company headquartered in Parsippany New Jersey It is the parent company of several brands including Avis Car Rental 3 Budget Rent a Car 4 Budget Truck Rental Payless Car Rental and Zipcar 5 Avis Budget Group Inc An Avis Budget Group location in TorontoCompany typePublicTraded asNasdaq CARDJTA componentS amp P 400 componentIndustryRentalleasing servicesPredecessorCendantFounded2006 18 years ago 2006 FoundersHenry SilvermanWarren AvisJulius LedererHeadquartersParsippany New Jersey United StatesNumber of locations11 000 2019 Areas servedWorldwideKey peopleJoe Ferraro president and CEO Bernardo Hees chairman ServicesCar and truck rentalsRevenueUS 12 1 billion 2023 Operating incomeUS 2 6 billion 2023 Net incomeUS 1 6 billion 2023 Total assetsUS 27 4 billion 2023 Total equityUS 349 million 2023 Number of employees21 000 2023 SubsidiariesAvis Car RentalBudget Rent a CarBudget Truck RentalPayless Car RentalZipcarWebsiteavisbudgetgroup wbr comFootnotes references 1 2 The company also operates several smaller regional brands including ACL Hire Apex Car Rentals 6 AmicoBlu France Cars Maggiore Group 7 MoriniRent TurisCar and TurisPrime 5 It is one of the three big rental car holding companies in the United States In 2021 it held a 26 market share placing it behind both the Hertz Global Holdings and Enterprise Holdings 8 History editFollowing 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 9 In 2011 Avis Budget Group acquired Avis Europe an independently owned company licensee globally reuniting the Avis and Budget brands 10 On September 5 2012 Avis Budget Group acquired Apex Car Rentals of New Zealand 11 On March 14 2013 Avis Budget Group purchased carsharing company Zipcar for about US 500 million in cash 12 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 The company s stock value rose dramatically due to increase demand for car rentals during the COVID 19 pandemic 15 and it became a meme stock in November 2021 with shares at one point doubling in a single day 16 Despite rising revenues the value of the stock began to decline in 2024 due to rising federal interest rates and declining values for used cars 17 References edit Avis Budget Group Forbes Avis Budget Group Reports Fourth Quarter and Full Year Results avisbudgetgroup com Christian Stoyanov Avis Budget Group A Time For Transformation Seeking Alpha Retrieved 30 April 2019 Cendant cutting hotels strikes deal for Budget Chicago Tribune Retrieved 30 April 2019 a b Brands Avis Budget Group Retrieved 7 September 2020 Avis Budget Group Enters Agreement to Acquire Apex Car Rentals of New Zealand Auto Rental News Retrieved 30 April 2019 Chelsey Dulaney Avis Budget to Buy Italy s Maggiore Group for 170 Million Wall Street Journal Retrieved 30 April 2019 How Consolidation in the Car Rental Industry Is Likely to Overhaul Ground Transportation GEP Retrieved 2021 06 23 Cendant to become Avis Budget Pacific Business News August 29 2006 Retrieved 18 August 2012 SEC Filings 10 K 2019 Avis Budget Group 20 February 2020 Retrieved 7 September 2020 Avis Budget Group to Acquire Apex Car Rentals Quick Facts Archived from the original on 2015 05 18 Retrieved 2015 05 09 Avis Budget to buy Zipcar for 500 mln Reuters 2 January 2013 Retrieved 2 January 2013 Rebecca Greenfield 2013 03 15 Uh Oh ZipCar s CEO Stepped Down Right After Its Merger with Avis The Atlantic Archived from the original on 2013 03 21 Retrieved 2022 01 20 Emily Bader 9 April 2015 Avis completes 160M acquisition of Italian vehicle rental business NJBIZ Rental car company Avis wrecked 1 billion of its largest shareholder s stake this year Quartz Meet the new meme stocks Shares of Avis and Bed Bath amp Beyond soar New York Times A Hedge Fund Made a Killing on Avis Stock Now the Trade Is Backfiring Wall Street Journal External links editOfficial website Business data for Avis Budget Group Inc GoogleSEC filingsYahoo Retrieved from https en wikipedia org w index php title Avis Budget Group amp oldid 1214421115, wikipedia, wiki, book, books, library,
