Avis Budget Group Inc. announced its Performance Excellence (PEx) initiatives in North America, Europe, Australia/New Zealand and Latin America/Caribbean generated more than $50 million in incremental cost savings in 2012.

For more than 800 projects worldwide, PEx team members worked with field and shared-services personnel to identify and implement opportunities for savings.

PEx projects in North America included reducing the time and expense associated with removing vehicles from car rental fleets, increasing vehicle resale opportunities and applying proven car rental best practices to lower truck rental operating costs.  

In Europe, Avis implemented replication projects from North America to enhance cross-border vehicle shuttling efficiency, reduce shipping costs for vehicles being sold and reduce information-technology costs at rental locations.

The PEx teams in Australia and New Zealand focused on fleet management, fuel accountability, tire expense, yield management and printing services.

In Puerto Rico and the U.S. Virgin Islands, PEx initiatives drove cost savings by focusing on fuel accountability, vehicle maintenance and ancillary revenue products.

Avis Budget Group launched its Performance Excellence initiative in late 2007, with aims to increase productivity, reduce costs and improve customer service.