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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 .
Avis Budget (CAR) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank 2 (Buy).
Avis Budget Group's purchase of major car-sharing player Zipcar this week for $500 million validates the popularity and potential of the car-sharing industry. But though Zipcar controls 75 percent ...
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.
The company was founded in 1946 with three cars at Willow Run Airport, [10] Ypsilanti, Michigan, by Warren Avis (August 4, 1915 – April 24, 2007). [8] It established branch operations across the United States over the next few years, becoming the second largest car rental company in the country by 1953.
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On March 14, 2013, Avis Budget Group acquired Zipcar for approximately US$500 million. [6] Scott Griffith, who had run the company for the previous decade, resigned the day after the acquisition closed and passed the reins to a new company president, Mark Norman. [7] In early 2014, Kaye Ceille took over as Zipcar's North American president.