Avis' 4th-Quarter Revenue Totals $627.4 Million

NEW YORK – Cendant Corp. reported that Avis' revenue totaled $627.4 million in the fourth quarter of 2003, up 1.8% compared to the same period in 2002. Rental days sold totaled 13,277,000, compared to 13,670,000 during the same quarter in 2002.

Average time and mileage revenue per day was $42.08 for the quarter, compared to $40.04 for 2002's fourth quarter. The average length of rental was 3.53 days, compared to 3.60 for the same period in 2002.

Budget's fourth-quarter car rental revenue totaled nearly $256.9 million, while its truck rental revenue totaled $121.6 million. Car rental days sold totaled 6.4 million. Average time and mileage revenue per day was $35.35. The average length of rental was 4.25 days.

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