From Surf Wiki (app.surf) — the open knowledge base

Avis Budget Group

Holding company of several car rental brands

Summary

Holding company of several car rental brands

Field	Value
name	Avis Budget Group, Inc.
logo	Avis Budget Group logo.svg
logo_alt	Avis Budget Group logo
image	AvisBudgetToronto.JPG
image_alt	An Avis Budget Group location in Toronto
image_caption	An Avis Budget Group location in Toronto
type	Public
traded_as
founders
hq_location_city	Parsippany, New Jersey
key_people
industry
services	Car and truck rentals
areas_served	Worldwide
hq_location_country	United States
num_locations	10,995 (2025)
predecessor	Cendant
founded
revenue	(2024)
operating_income	(2024)
net_income	(2024)
assets	(2024)
equity	(2024)
num_employees	23,999 (2026)
subsid	{{Unbulleted list
website
footnotes

| Avis Car Rental | Budget Rent a Car | Budget Truck Rental | Payless Car Rental | Zipcar | Flexcar 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, Budget Rent a Car, Budget Truck Rental, Payless Car Rental, and Zipcar.

An Avis Budget Group location in [[Knoxville, Tennessee

The company also operates several smaller, regional brands including ACL Hire, Apex Car Rentals, AmicoBlu, France Cars, Maggiore Group, MoriniRent, TurisCar and TurisPrime.

It is one of the three big rental car holding companies in the United States. During 2018 Avis along with 90 additional Fortune 500 companies "paid an effective federal tax rate of 0% or less" as a result of Donald Trump´s Tax Cuts and Jobs Act of 2017. In 2021 it held a 26% market share, placing it behind both the Hertz Global Holdings and Enterprise Holdings.

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.

In 2011, Avis Budget Group acquired Avis Europe, an independently owned company licensee, globally reuniting the Avis and Budget brands.

On September 5, 2012, Avis Budget Group acquired Apex Car Rentals of New Zealand.

On March 14, 2013, Avis Budget Group purchased carsharing company Zipcar for about million in cash.

On April 9, 2015, Avis Budget Group announced it had completed the acquisition of Maggiore Group, Italy's fourth-largest vehicle rental company. During 2018 Avis along with 90 additional Fortune 500 companies "paid an effective federal tax rate of 0% or less" as a result of Donald Trump´s Tax Cuts and Jobs Act of 2017.

The company's stock value rose dramatically due to increased demand for car rentals during the COVID-19 pandemic and it became a meme stock in November 2021, with shares at one point doubling in a single day. 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.

References

(February 14, 2025). "2024 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission.
"Avis Budget Group".
Christian Stoyanov. "Avis Budget Group: A Time For Transformation". Seeking Alpha.
"Cendant cutting hotels, strikes deal for Budget". Chicago Tribune.
"Brands". Avis Budget Group.
"Avis Budget Group Enters Agreement to Acquire Apex Car Rentals of New Zealand". Auto Rental News.
Chelsey Dulaney. "Avis Budget to Buy Italy's Maggiore Group for $170 Million". Wall Street Journal.
Pound, Jesse. (December 16, 2019). "These 91 companies paid no federal taxes in 2018". [[CNBC]].
"How Consolidation in the Car Rental Industry Is Likely to Overhaul Ground Transportation". GEP.
(August 29, 2006). "Cendant to become Avis. Budget". Pacific Business News.
(20 February 2020). "SEC Filings: 10-K 2019". Avis Budget Group.
"Avis Budget Group to Acquire Apex Car Rentals - Quick Facts".
(2 January 2013). "Avis Budget to buy Zipcar for $500 mln". Reuters.
Rebecca Greenfield. (2013-03-15). "Uh Oh, ZipCar's CEO Stepped Down Right After Its Merger with Avis". The Atlantic.
Emily Bader. (9 April 2015). "Avis completes $160M acquisition of Italian vehicle rental business". NJBIZ.
(26 February 2024). "Rental car company Avis wrecked $1 billion of its largest shareholder's stake this year".
(3 November 2021). "Meet the new meme stocks? Shares of Avis and Bed Bath & Beyond soar.".
"A Hedge Fund Made a Killing on Avis Stock. Now the Trade Is Backfiring.".

Wikipedia Source

This article was imported from Wikipedia and is available under the Creative Commons Attribution-ShareAlike 4.0 License. Content has been adapted to SurfDoc format. Original contributors can be found on the article history page.

avis-budget-group american-companies-established-in-2006 car-rental-companies-of-the-united-states companies-based-in-morris-county,-new-jersey companies-listed-on-the-nasdaq companies-in-the-dow-jones-transportation-average corporate-spin-offs franchises holding-companies-established-in-2006 holding-companies-of-the-united-states parsippany-troy-hills,-new-jersey retail-companies-established-in-2006 transport-companies-established-in-2006 companies-in-the-s&p-400 tax-avoidance

Want to explore this topic further?

Ask Mako anything about Avis Budget Group — get instant answers, deeper analysis, and related topics.

Research with Mako

Free with your Surf account

Content sourced from Wikipedia, available under CC BY-SA 4.0.

This content may have been generated or modified by AI. CloudSurf Software LLC is not responsible for the accuracy, completeness, or reliability of AI-generated content. Always verify important information from primary sources.

Report