Avis Budget Group Provides Second Quarter Updates

On June 15, Avis Budget Group Inc. announced that it has posted an investor update presentation to its Web site. The presentation, which will be discussed with investors in upcoming meetings, provides updates on second quarter trends including pricing and volume, the used car market and cost saving initiatives.

Highlights on outlook:

  • Avis Budget Group expects an overall price increase of 5-7 percent in second quarter.
  • Demand remains depressed in the second quarter.
  • Expect rental days to be down 20-22 percent year-over-year
  • Fleet levels continue to be in line with demand.
  • Industry fleet levels for the summer expected to be tight.
  • Per-unit fleet costs for 2010 model-year units expected to decline.

The company expects to issue $1 billion to $1.5 billion in asset-backed debt over the next year.

Comment On This Story

Name:  
Email:  
Comment: (Max. 10000 characters)  
Please leave blank:
* Please note that every comment is moderated.

 
 

Newsletter: Sign up to receive latest news, articles, and much more.

Read the latest

Auto Focus Blog: A blog covering fleets, auto rental and the business of cars

Car Rental Rates Up, Fleet Sales Down — Correlation?

Car rental companies’ recent fleet discipline is needed now more than ever.

Hertz, Avis Autonomy Partnerships: Good First Steps on a Long Path

Two new autonomous vehicle project partnerships bring the importance of fleet management to the fore.

An Inside Look at Car Rental in China

A trip to a new car rental convention in Guangzhou reveals a booming market, yet one facing unique challenges.

Job Finder: Access Top Talent. Fill Key Positions.

>