Avis Budget Group, Inc.
Parsippany-based vehicle rental company operating Avis, Budget, Zipcar, Budget Truck, and Payless across global airport and local markets.
Company Type
public
Founded
2006
Headquarters
Parsippany, New Jersey, USA
Stock
NASDAQ: CAR
Revenue
Approximately $11.8 billion (FY2024)
Employees
Approximately 20,500
Primary Market
Global
Avis Budget Group, Inc. Timeline
About Avis Budget Group, Inc.
What brands does Avis Budget own?
Avis, Budget, Budget Truck, Zipcar, and Payless, operating across about 180 countries.
Is Avis Budget publicly traded?
Yes. It trades on NASDAQ under ticker CAR and has been independent since the 2006 Cendant spin-off.
Does Avis own Zipcar?
Yes. Avis Budget Group acquired Zipcar in 2013 for approximately $500 million.
Who is the CEO of Avis Budget?
Joe Ferraro, a longtime company executive, has been CEO since June 2025.
Where is Avis Budget headquartered?
Parsippany, New Jersey, USA.
History of Avis Budget Group, Inc.
The company descends from two rental pioneers. Warren Avis founded Avis Rent A Car in 1946 at Willow Run Airport in Detroit, pioneering airport car rental. Budget Rent a Car followed in 1958 in Los Angeles, founded by Morris Mirkin and Julius Lederer as a lower-priced challenger.
Both cycled through owners for decades. Avis passed through corporate parents including ITT and eventually Cendant Corporation, the travel and real estate conglomerate that also owned Budget. When Cendant broke apart in 2006, its vehicle services arm became the independent public company Avis Budget Group, listed under ticker CAR.
The modern expansion was Zipcar: Avis Budget acquired the pioneering car-sharing company in 2013 for approximately $500 million, gaining the category leader in hourly urban rental and university campuses. Payless Car Rental had been added the prior year. Joe Ferraro, a decades-long company veteran who ran the Americas division, became CEO in June 2025 after serving as interim chief executive.
Brands Owned by Avis Budget Group, Inc.
Avis Budget Group, Inc. owns 7 brands in our database. Explore the ownership tree below — click categories to expand and see individual brands.
Avis Budget Group, Inc.
public · Founded 2006 · Parsippany, New Jersey, USA
7
brands
Stock Information
Avis Budget Group, Inc. Ownership: Pros & Cons
Advantages
- +Three global brands covering premium, value, and sharing segments
- +Record utilization at 74% and improving revenue per day
- +$650 million Pentwater settlement bolsters Q4
- +Deleveraging with $350 million note redemption
- +Zipcar's unique urban position
Considerations
- -Capital-intensive fleet model with residual value risk
- -Highly leveraged balance sheet industry-standard but burdensome
- -Cyclical travel demand exposure
- -Activist investor pressure history
- -Thin margins against Enterprise's scale and Hertz's airport share
Frequently Asked Questions About Avis Budget Group, Inc.
What brands does Avis Budget own?
Avis, Budget, Budget Truck, Zipcar, and Payless, operating across about 180 countries.
Is Avis Budget publicly traded?
Yes. It trades on NASDAQ under ticker CAR and has been independent since the 2006 Cendant spin-off.
Does Avis own Zipcar?
Yes. Avis Budget Group acquired Zipcar in 2013 for approximately $500 million.
Who is the CEO of Avis Budget?
Joe Ferraro, a longtime company executive, has been CEO since June 2025.
Where is Avis Budget headquartered?
Parsippany, New Jersey, USA.
Sources & Further Reading
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