Avis Budget Group

Brands: Avis, Budget, Payless, Zipcar
Founded: 2006 (spin-off of Cendant’s vehicle rental division)
Headquarters: Parsippany, New Jersey, USA
Type: Public (corporation)
Categories: Car rental; car sharing; mobility solutions
Markets: Worldwide (Avis and Budget operate in ~11,000 locations across 180 countries)

Overview: Avis Budget Group is a leading global transportation provider, formed in 2006 when Cendant spun off its car rental arm. It operates two major car rental brands: Avis (a full-service brand) and Budget (value-oriented), as well as Payless Rent-A-Car. In 2013 ABG acquired Zipcar (car-sharing services) for about $500 million, adding a large-scale car-sharing network to its business. Today the group serves both airport and neighborhood customers worldwide, underlining its position as one of the largest car rental companies globally.

Products and Services:
– Short-term car rentals (cars, SUVs, vans) under Avis, Budget and Payless
– Truck and van rentals (Budget Truck, etc.)
– Car-sharing and subscription services (Zipcar)
– Corporate and leisure rental packages

Geography and Markets: Avis Budget Group has a presence on all continents. It operates most of its offices directly in North America, Europe and Australasia, and relies on licensed franchisees in many other countries. Its brands service travelers at airports and city locations in roughly 180 countries.

Ownership and Corporate Structure: ABG is a publicly traded company. Key corporate events include acquiring Avis Europe in 2011 (reuniting global Avis operations) and purchasing Zipcar and Payless in 2013. The group now includes Avis Rent A Car, Budget Rent A Car, Payless, and Zipcar as subsidiaries. The company uses a mix of company-owned branches and franchised/licensed locations worldwide.

Key Dates:
– 2006: Cendant spins off its vehicle rental business, renaming it Avis Budget Group.
– 2011: ABG completes acquisition of Avis Europe (635 million pounds, unifying Avis brand globally).
– 2013: ABG acquires Zipcar (~$500M) and Payless Rent A Car (cash deal). Zipcar operates as a wholly-owned subsidiary.
– 2020–21: ABG weathers the COVID-19 downturn (no bankruptcy) while expanding its EV and tech initiatives.
– 2023: Continues as independent public company; reported ~11,000 locations worldwide.

(Sources: Company financial reports, SEC filings, official press releases, and reputable news outlets were used.)