Company type | Public |
---|---|
Industry | |
Predecessor | Cendant |
Founded | 2006 |
Founders | |
Headquarters | , United States |
Number of locations | 11,000 (2019) |
Areas served | Worldwide |
Key people |
|
Services | Car and truck rentals |
Revenue | US$12.1 billion (2023) |
US$2.6 billion (2023) | |
US$1.6 billion (2023) | |
Total assets | US$27.4 billion (2023) |
Total equity | US$349 million (2023) |
Number of employees | 21,000 (2023) |
Subsidiaries | |
Website | avisbudgetgroup |
Footnotes /references [1] [2] |
Avis Budget Group, Inc. is an 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]
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]
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 increased 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]
Hertz Global Holdings, Inc., known as Hertz, is an American car rental company based in Estero, Florida. The company operates its namesake Hertz brand, along with the brands Dollar Rent A Car, Firefly Car Rental and Thrifty Car Rental.
Cendant Corporation was an American provider of business and consumer services, primarily within the real estate and travel industries. In 2005 and 2006, it broke up and spun off or sold its constituent businesses. Although it was based in New York City, the majority of its headquarters employees were in Parsippany-Troy Hills, New Jersey.
The Aaron's Company, Inc. is an American lease-to-own retailer. The company focuses on leases and retail sales of furniture, electronics, appliances, and computers. The company sells through the company-operated and franchised stores, e-commerce platform (Aarons.com)
Zipcar is an American car-sharing company and a subsidiary of Avis Budget Group. Zipcar provides vehicle reservations to its members, billable by the minute, hour or day; members may have to pay a monthly or annual membership fee in addition to car reservations charges. Gas, maintenance, insurance options, and a dedicated parking spot are included. Zipcar was founded in 2000 by Antje Danielson and Robin Chase.
Alamo Rent a Car is a rental car agency based in Clayton, Missouri, United States. The company has branches across North America, South America, Africa, Europe, Asia, Australia and Oceania. Alamo is owned by Enterprise Holdings, along with other agencies including Enterprise Rent-A-Car and National Car Rental. Alamo typically caters to budget-conscious leisure travelers and is the largest car rental provider to international travelers visiting North America.
CUC (Comp-U-Card) International Inc. was a membership-based consumer services conglomerate with travel, shopping, auto, dining, home improvement and financial services offered to more than 60 million customers worldwide based in Stamford, Connecticut, US, and founded in 1973 by Kirk Shelton and Walter Forbes. In 1998, it became involved in a Securities and Exchange Commission investigation into what, at the time, was the biggest accounting scandal in corporate history.
Avis Car Rental, LLC is an American car rental company headquartered in Parsippany, New Jersey. Along with Budget Rent a Car, Budget Truck Rental and Zipcar, Avis is a unit of Avis Budget Group.
Budget Rent a Car System, Inc. is an American car rental company that was founded in 1958 in Los Angeles, California by Morris Mirkin. Budget is a subsidiary of the Avis Budget Group, with its operations headquartered in Parsippany, New Jersey.
AutoNation is an American automotive retailer based in Fort Lauderdale, Florida, which provides new and pre-owned vehicles and associated services in the United States. The company was founded by Wayne Huizenga in 1996, starting with twelve AutoNation locations, and now has more than 300 retail outlets.
Payless Car Rental, Inc. is a car rental company owned by Avis Budget Group and headquartered in St. Petersburg, Florida. While mainly a franchise system, the company owns and operates several corporate locations. Payless Car Rental, Payless Car Sales, Payless Parking and REZlink International are sister companies under the umbrella of Avalon Global Group.
Budget Truck Rental, LLC is the second largest truck rental company in the continental United States, with around 2,800 locations and 32,000 trucks across the country. Budget Truck Rental is owned and operated by Avis Budget Group, which was spun off from Cendant.
A consolidated rental car facility (CRCF) or consolidated rental car center (CONRAC) is a complex that hosts numerous car rental agencies, typically found at airports in the United States.
Avis Europe plc is a United Kingdom-based company which holds the licence to operate the two main vehicle rental brands of Avis Budget Group in Europe, the Middle East and Africa as well as Asia in the case of Avis. In 2011 it was acquired by Avis Budget Group.
Henry R. Silverman is an American entrepreneur and private equity investor. Silverman is best known for his role in building Cendant Corporation into a multibillion-dollar business services company that provided car rentals, travel reservation services as well as real estate brokerage services and was also the largest franchisor of hotels globally.
Turo Inc. is an American peer-to-peer carsharing company based in San Francisco, United States. The company allows private car owners to rent out their vehicles via an online and mobile interface in four countries and new corporate owners to rent out their cars in France in addition to the four previous countries.
Dollar Thrifty Automotive Group is the former holding company of Thrifty Car Rental and Dollar Rent A Car. Dollar Thrifty Automotive began to operate as an independent car rental subsidiary of the Chrysler Corporation on November 4, 1997 while continuing to support its two brands, Dollar Rent A Car and Thrifty Car Rental. It was acquired by The Hertz Corporation for US$2.3 billion on November 19, 2012.
Enterprise Holdings, Inc. is an American private holding company headquartered in Clayton, Missouri, in Greater St. Louis. It is the parent company of car rental agencies Enterprise Rent-A-Car, National Car Rental, Alamo Rent a Car and also operates several other transportation services including commercial fleet management, used car sales, carsharing, and commercial truck rental operations.
Avis Rent a Car South Africa, better known as Avis, is a South African car rental company headquartered in Kempton Park, Gauteng, South Africa. Avis Rent a Car South Africa is part of the Avis Rent a Car System and the company operates as a subsidiary of Barloworld Limited since it was acquired in March 2005 and was delisted from Johannesburg Stock Exchange. The name Avis, however, remained unaltered.
PowerFleet, Inc. is an American company headquartered in Woodcliff Lake, New Jersey, with offices located around the globe and a technology innovation center in Israel. The company is a global provider of wireless IoT and M2M solutions for securing, controlling, tracking, and managing high-value enterprise assets such as industrial trucks, tractor trailers, intermodal shipping containers, cargo, and vehicle and truck fleets.
The LAX Consolidated Rent-A-Car Facility is an under-construction consolidated rental car facility for the Los Angeles International Airport (LAX). When it is operational in 2025, it will consolidate rental car operations currently spread across the surrounding area of LAX into one location adjacent to the 405 freeway. The new facility is expected to store up to 21,000 rental vehicles.