Avis Budget Group Announces Rate Increase

Effective Dec. 1, 2008, Avis Budget Group will increase retail car rental rates to $3 per day and $20 per week at all airport and selected off-airport rentals in the U.S. other than those covered by corporate account agreements or other special arrangements.

The new rate increase is the latest in a series of recent industry retail price increases. "The severe impact of escalating costs affecting our business clearly requires that rates rise over time in order to improve profitability," said Scott Deaver, executive vice president, strategy, Avis Budget Group.

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