Avis Budget Group





































































Avis Budget Group, Inc.
Type
 Public
Traded as
NASDAQ: CAR
DJTA Component
S&P 400 Component
Industry
Rental & leasing services
Founded 2006
Founder
Henry Silverman, Warren Avis, Julius Lederer
Headquarters
Parsippany, New Jersey, United States
Key people

  • Larry D. De Shon

  • (Director & CEO)[1]

  • David B. Wyshner

  • (President & CFO)[1]
Products Car rental
Revenue IncreaseUS$ 8.66 billion (2016)[1]
Operating income
 DecreaseUS$ 509 million (2016)[1]
Net income
 DecreaseUS$ 163 million (2016)[1]
Total assets IncreaseUS$ 17.64 billion (2016)[1]
Total equity DecreaseUS$ 221 million (2016)[1]
Number of employees
 ~30,000 (2016)[1]
Website www.avisbudgetgroup.com



Avis Budget Group


Avis Budget Group, Inc. is the American parent company of Avis Car Rental,[2]Budget Car Rental,[2]Budget Truck Rental, Payless Car Rental, Apex Car Rentals,[3] Maggiore Group[4] and Zipcar.[5] The company's headquarters are located in Parsippany, 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.[6]




Contents






  • 1 History


  • 2 References


  • 3 In popular culture


  • 4 External links





History


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.[7] 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).[8]


On September 5, 2012, Avis Budget Group acquired Apex Car Rentals of New Zealand. [3][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 April 9, 2015, Avis Budget Group announced it had completed the acquisition of Maggiore Group, Italy's fourth-largest vehicle rental company.[4][11]



References





  1. ^ abcdefgh "US SEC: Form 10-K Avis Budget Group". United States Securities and Exchange Commission. Missing or empty |url= (help); |access-date= requires |url= (help).mw-parser-output cite.citation{font-style:inherit}.mw-parser-output q{quotes:"""""""'""'"}.mw-parser-output code.cs1-code{color:inherit;background:inherit;border:inherit;padding:inherit}.mw-parser-output .cs1-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/6/65/Lock-green.svg/9px-Lock-green.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .cs1-lock-limited a,.mw-parser-output .cs1-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/d/d6/Lock-gray-alt-2.svg/9px-Lock-gray-alt-2.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .cs1-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Lock-red-alt-2.svg/9px-Lock-red-alt-2.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .cs1-subscription,.mw-parser-output .cs1-registration{color:#555}.mw-parser-output .cs1-subscription span,.mw-parser-output .cs1-registration span{border-bottom:1px dotted;cursor:help}.mw-parser-output .cs1-hidden-error{display:none;font-size:100%}.mw-parser-output .cs1-visible-error{font-size:100%}.mw-parser-output .cs1-subscription,.mw-parser-output .cs1-registration,.mw-parser-output .cs1-format{font-size:95%}.mw-parser-output .cs1-kern-left,.mw-parser-output .cs1-kern-wl-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right,.mw-parser-output .cs1-kern-wl-right{padding-right:0.2em}


  2. ^ ab "Avis Car Rental and Budget Car Rental Recognized Among Top 50 'Green' Brands". avisbudgetgroup.com.


  3. ^ ab "Avis Budget Group Announces Agreement to Acquire Apex Car Rentals of New Zealand". avisbudgetgroup.com.


  4. ^ ab "Avis Budget Group Completes Acquisition of Maggiore Group". avisbudgetgroup.com.


  5. ^ "Avis Budget to buy Zipcar for $500 mln". Reuters. Retrieved 2 January 2013.


  6. ^ "Avis Beats on Better Travel Trends". Zacks Investment Research. May 4, 2011. Retrieved 2011-05-14.


  7. ^ "Cendant to become Avis. Budget". Pacific Business News. August 29, 2006. Retrieved 18 August 2012.


  8. ^ "Avis Budget Group Plans to Put Interoperable Toll Transponders on the Road". RFID Journal. December 23, 2008. Retrieved 2011-05-14.


  9. ^ "Archived copy". Archived from the original on 2015-05-18. Retrieved 2015-05-09.CS1 maint: Archived copy as title (link)


  10. ^ Rebecca Greenfield (2013-03-15). "Uh Oh, ZipCar's CEO Stepped Down Right After Its Merger with Avis". theatlanticwire.com.


  11. ^ Emily Bader (9 April 2015). "Avis completes $160M acquisition of Italian vehicle rental business". NJBIZ.




In popular culture


In the Seth MacFarlane's TV series The Orville, Avis is referenced as a Car Rental Company as well as the God of an alien species called The Krill.



External links



  • Official website


    • Business data for Avis Budget Group: Google Finance

    • Yahoo! Finance

    • Reuters

    • SEC filings














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