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About Avis Budget Group, Inc.

Avis Budget Group (ABG) has a car rental brand for you. The company's core brands include: Avis Rent A Car, which targets corporate and leisure travelers at the high end of the market; Budget Rent A Car and Payless Car Rental, both marketed to those on a budget; and Zipcar, a car-sharing service. The company and their licensees operate their brands in approximately 180 countries in North America, Europe, Australia, and New Zealand. Their rental fleet totaled approximately 660,000 vehicles in 2019 and they completed more than 41 million vehicle rental transactions worldwide. Their brands and mobility solutions have an extended global reach with more than 11,000 rental locations, including approximately 4,300 locations operated by their licensees. The company generates nearly 70% of its revenue from its on-airport locations. Avis's Budget Truck is one of the leading truck rental businesses in the US.

Operations

ABG operates through two business segments, Americas and International.

Americas generates nearly 70% of the sales is comprised of its vehicle rental business (including licensee business), Zipcar car-sharing business, and other products and services in North, South and Central America, and the Caribbean.

International accounts for more than 30% of sales provides similar products and services in Europe, the Middle East, Africa, Asia, Australia, and New Zealand.

The company's Budget Truck rental business boasts a US fleet of some 20,000 trucks across its network of more than 400 company-owned locations and more than 500 dealer-operated locations.

Geographic Reach

With its headquarter in Parsippany, New Jersey, ABG also operates in 180 countries in North America, Europe, Australasia, and New Zealand. About 65% of its revenue stems from the US.

Sales and Marketing

The car rental firm touts the Avis and Budget brands through traditional media, including TV, radio, and print ads, as well as Internet, email marketing, and mobile device applications. Avis and Budget have marketing partnerships with several major airlines including American Airlines, Air Canada, British Airways, KLM, Lufthansa, and Southwest Airlines, among others, and through sponsorships of major sports entities. They also market through sponsorships of charitable organizations such as the Make-A-Wish Foundation and the Red Cross.

The company spends approximately $100-120 million in advertising expenses annually.

Financial Performance

ABG's revenue for the past five years have been consistently increasing. Between 2015 and 2019 their revenue increased by 8%, while their Net Income have been fluctuating year to year.

Revenues increased 1% to $9.2 billion during 2019 compared to 2018, primarily due to a 3% increase in volume, partially offset by a $165 million negative impact from currency exchange rate movements.

Net income for fiscal 2019 increased 83% to $302 million as compared to fiscal 2018 primarily due to higher revenues, lower per-unit fleet costs, partially offset by higher salaries, wages, and related benefits and higher vehicle registration fees.

Cash at the end of 2019 was $900 million, an increase of $165 million from the prior year. Cash from operations contributed $2.6 billion to the coffers, while investing activities used $2.8 billion, mainly for the investments in vehicles. Financing activities added another $318 million from proceeds from long-term borrowings.

Strategy

Avis and Budget is focused on driving sustainable and profitable growth by leveraging differentiated brands and products, delivering margins from their established and positioning their company as a global leader in the mobility sector. Their investments in technology, including Avis mobile application and websites, are key parts of their efforts to enhance customer experience. Their strategic initiatives include continuing to invest in connected fleets, expanding their risk vehicle dispositions, achieving fleet cost efficiencies and controlling costs by reducing their expenses. They also expanded their services to offer vehicle rentals to ride-hail drivers and to package delivery providers.

To continue to deliver a high level of customer service, the company developed Customer Led, Service Driven program that focuses on improving overall customer experience, executing their customer relationship management strategy, delivering customer-centric employee training and leverage their mobile applications technology.

In 2019, the Company introduced Business Intelligence, an online portal complete with rental summary dashboards, visualizations and detailed reports that provides their corporate customers with insight into program's performance, giving them direct access to more data in a customer-facing portal offering useful data insights, including options to customize and schedule reports.

Avis Budget Group, Inc.

6 Sylvan Way Ste 1
Parsippany, NJ 07054-3826
Phone: 1 (973) 496-4700

Firm Stats

Employer Type: Publicly Owned
Stock Symbol: CAR
Stock Exchange: , NASDAQ
CEO and COO: Larry D. De Shon
Chairman: Ronald L. Nelson
Interim CFO: Martyn R. Smith
Employees (This Location): 157
Employees (All Locations): 30,000

Major Office Locations

Parsippany, NJ

Other Locations

Juneau, AK
Birmingham, AL
Decatur, AL
Hartselle, AL
Mobile, AL
Montgomery, AL
Bentonville, AR
El Dorado, AR
North Little Rock, AR
Van Buren, AR
Chandler, AZ
Flagstaff, AZ
Goodyear, AZ
Kingman, AZ
Lake Havasu City, AZ
Mesa, AZ
Page, AZ
Prescott, AZ
Prescott Valley, AZ
Tempe, AZ
Tucson, AZ
Alhambra, CA
Anaheim, CA
Antioch, CA
Auburn, CA
Barstow, CA
Berkeley, CA
Beverly Hills, CA
Burbank, CA
Carlsbad, CA
Carson, CA
Chino Hills, CA
Chula Vista, CA
Colton, CA
Culver City, CA
Duarte, CA
Elk Grove, CA
El Monte, CA
Emeryville, CA
Escondido, CA
Fairfield, CA
Fremont, CA
Fresno, CA
Hesperia, CA
La Habra, CA
La Jolla, CA
Lake Forest, CA
Long Beach, CA
Los Angeles, CA
Lynwood, CA
Madera, CA
Milpitas, CA
Modesto, CA
Montclair, CA
Mountain View, CA
Newport Beach, CA
North Hollywood, CA
Oakland, CA
Oceanside, CA
Ontario, CA
Orange, CA
Oroville, CA
Pacifica, CA
Palmdale, CA
Palm Springs, CA
Palo Alto, CA
Pasadena, CA
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Pleasanton, CA
Rancho Cordova, CA
Red Bluff, CA
Redlands, CA
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Burlington, IA
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Alsip, IL
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South Bend, IN
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Lawrence, KS
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Erlanger, KY
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Abbeville, LA
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Baton Rouge, LA
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Slidell, LA
Allston, MA
Bedford, MA
Boston, MA
Braintree, MA
Cambridge, MA
Dedham, MA
Falmouth, MA
Framingham, MA
Hyannis, MA
Jamaica Plain, MA
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Methuen, MA
Natick, MA
New Bedford, MA
Northampton, MA
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Springfield, MA
Taunton, MA
Vineyard Haven, MA
Woburn, MA
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Bay Saint Louis, MS
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Belgrade, MT
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Havre, MT
Aberdeen, NC
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Fletcher, NC
Greensboro, NC
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Mooresville, NC
New Bern, NC
Raleigh, NC
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Waynesville, NC
Fargo, ND
Williston, ND
Grand Island, NE
Mc Cook, NE
Manchester, NH
Nashua, NH
Salem, NH
Bridgewater, NJ
Cherry Hill, NJ
Deptford, NJ
East Hanover, NJ
Edison, NJ
Jersey City, NJ
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Albuquerque, NM
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Henderson, NV
Las Vegas, NV
Reno, NV
Amherst, NY
Bay Shore, NY
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Akron, OH
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Canton, OH
Cincinnati, OH
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Dublin, OH
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Heath, OH
Mason, OH
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North Olmsted, OH
Ottawa Hills, OH
Oxford, OH
Reynoldsburg, OH
Shaker Heights, OH
Tiffin, OH
Vandalia, OH
Wadsworth, OH
Broken Arrow, OK
Lawton, OK
Midwest City, OK
Oklahoma City, OK
Tulsa, OK
Beaverton, OR
Eugene, OR
Portland, OR
Bala Cynwyd, PA
Bensalem, PA
Bloomsburg, PA
Coatesville, PA
Conshohocken, PA
Duncansville, PA
Erie, PA
King Of Prussia, PA
Lancaster, PA
Middletown, PA
Montoursville, PA
New Kensington, PA
Philadelphia, PA
Pittsburgh, PA
Reading, PA
Scranton, PA
State College, PA
Willow Grove, PA
York, PA
Providence, RI
Warwick, RI
Beaufort, SC
Charleston, SC
Columbia, SC
Florence, SC
Lexington, SC
Myrtle Beach, SC
Pierre, SD
Brentwood, TN
Collierville, TN
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Katy, TX
Kyle, TX
Lewisville, TX
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Odessa, TX
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St George, UT
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Mumbai, India
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Barrie, Canada
Belleville, Canada
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Brampton, Canada
Brandon, Canada
Brantford, Canada
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Burlington, Canada
Burnaby, Canada
Calgary, Canada
Coquitlam, Canada
Cranbrook, Canada
Deer Lake, Canada
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Dorval, Canada
Edmonton, Canada
Elizabethtown, Canada
Enfield, Canada
Etobicoke, Canada
Fort Frances, Canada
Fort Mcmurray, Canada
Fredericton, Canada
Gander, Canada
Garson, Canada
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Gloucester, Canada
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Halifax, Canada
Hamilton, Canada
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Genas, France
Limoges, France
Merignac, France
Perigueux, France
Roanne, France
Saint Etienne, France
Vichy, France
Machelen (Bt.), Belgium
Singapore, Singapore
Aarau, Switzerland
Agno, Switzerland
Altdorf, Switzerland
Altendorf, Switzerland
Altenrhein, Switzerland
Ascona, Switzerland
Bad Ragaz, Switzerland
Basel, Switzerland
Bern, Switzerland
Biel-Bienne, Switzerland
Binningen, Switzerland
Buchs, Switzerland
Chur, Switzerland
Davos Platz, Switzerland
Emmenbrücke, Switzerland
Fribourg, Switzerland
Genève 15 Aéroport, Switzerland
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