Avis Budget Group

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Avis Budget Group
Public
Traded as NASDAQCAR
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.avisbudgetgroup.com
Avis Budget Group

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,[dated info] Avis Budget is the leading general-use vehicle rental company in North America, Australia and New Zealand.[7]

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.[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

External links