Avis Budget Group Company Profile
Avis Budget Group, Inc., together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary services to businesses and consumers worldwide. The company operates through Americas and International segments. It operates the Avis car rental system with approximately 5,550 locations that supply rental cars to the premium commercial and leisure segments of the travel industry; the Budget vehicle rental system with approximately 3,900 car rental locations, which serve the value-conscious segments of the industry; and Zipcar, a membership-based car sharing network that provides vehicles to approximately 1 million members. The company also operates the Payless brand, which comprises approximately 200 vehicle rental locations; Apex brand primarily in the deep-value segment of the car rental industry with approximately 20 rental locations; and the Maggiore brand that provides vehicle rental services in the commercial, leisure, and insurance replacement/leasing segments with approximately 100 rental locations in Italy. In addition, it is involved in the local and one-way truck rental businesses with a fleet of approximately 21,000 vehicles, which are rented through a network of approximately 1,000 dealers and 450 company-operated locations that serve the consumer and light commercial sectors in the continental United States. Further, the company provides a range of optional insurance products and coverages, such as supplemental liability insurance, personal accident insurance, personal effects protection, automobile towing protection, and cargo insurance. Avis Budget Group, Inc. was founded in 1946 and is headquartered in Parsippany, New Jersey.