Avis Revenue Dips in First Quarter

NEW YORK -- Cendant Corp. reported that Avis' first-quarter revenue totalled $558.99 million, compared to $571.3 million in the first quarter of 2002. Budget's car rental revenue for the quarter was $280.3 million, while its truck rental revenue reached $108.1 million.

The average length of rental for Avis was 3.7 days, compared to 3.81 days during the same period in 2002. The average length of rental for Budget was 4.40 days during the first quarter, down just slightly from 4.44 days during the first quarter in 2002.

Avis sold 13,093,000 rental days, compared to 13,537,000 in the same period in 2002. Budget sold 6,769,000 rental days, compared to 7,435,000 in 2002's first quarter.

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