Avis CEO Ferraro Talks Pandemic Pivot on CNBC
In an interview with CNBC, Avis Budget Group’s CEO Joe Ferraro was asked about how the company transitioned into the coronavirus environment and how the Hertz bankruptcy might affect Avis.

“We're good at teaching people how to do customer service ..." he said. “But when it comes to fighting disease infection, we need help.”
Screengrab from CNBC.
Avis Budget Group’s new CEO Joe Ferraro, appointed June 15, sat down for an interview with Melissa Lee on CNBC’s Power Lunch on Thursday. Lee first asked Ferraro about what Avis has done to right size its business to meet today’s market.
Ferraro said the company’s response was three-pronged: The first was to provide a safe environment for employees and customers. The second was liquidity, which Ferraro said the company is set for the coming year. The third was making sure the fleet matched the revenue environment.
Ferraro preferred to concentrate on the first point. He talked about the vehicle disinfecting initiative with Lysol, as well as the need to retrain internally.
Ferraro said a five-panel group of medical professionals led by Dr. Olajide Williams, the head of Neurology at Columbia University, gave Avis protocols on how to deal with behavioral change for employees regarding social distancing, cleanliness, and using proper personal protective equipment.
The initiative includes incorporating training materials from a company called Hip Hop Public Health.
“We're good at teaching people how to do customer service and manage the daily rigors of the rental business or fix a car,” he said. “But when it comes to fighting disease infection, we need help.”
When Lee then asked him about stock performance and how the Hertz bankruptcy might impact Avis, Ferraro largely sidestepped the question.
He said the company was on track for a potentially record year, up 15% in the month of February in the Americas, and then the pandemic hit.
“I'm proud of how we reacted and went about right sizing our business and getting ready for the uncertainty,” Ferraro said. “We have a plan in place that gets that gets us to where we can start seeing the light at the end of this tunnel, as difficult as the environment may be.”
More Rental Operations

Avis Cuts Fleet as Summer Demand Trails Expectations
Avis Budget Group increased second-quarter earnings despite lower Americas revenue and softer-than-expected summer demand. The company also expanded Avis First and advanced its autonomous fleet operations with Waymo.
Read More →
Why Bookings Are Only the Start of the Rental Day
A reservation captures demand. The operating test is whether the business can keep the customer, vehicle, commercial terms, and next action aligned until the rental is closed.
Read More →
This Is the Oldest Car Rental Advertisement You’ll Ever See
This ad for Saunders Drive it Yourself, believed to be the first car rental company in the U.S., was found in an Omaha phone book from 1926.
Read More →
The Desk Upsell Is Costing Operators More Than it Earns
Counter upsells generate revenue, but they can also slow transactions, erode trust, and cost repeat business. Fully inclusive pricing may offer operators a better path to long-term value.
Read More →
U-Save Expands Indian Ocean Presence with New Master Franchise for Mauritius
The franchise has been acquired by Mauritian travel entrepreneur Umarfarooq Omarjee, an established figure in the island's tourism and mobility sector.
Read More →
Global Carsharing Fleet Projected to Reach 768,000 Vehicles By 2030
A new Berg Insight forecast outlines several business models driving the projected growth in public carsharing worldwide through 2029.
Read More →
Rental Car Fleet Sales Show Mid-Year Strength
June gains ensured rental fleets closed out the first half of 2026 in positive territory.
Read More →
Surprice Mobility Opens Corporate Rental Station at Milan Malpensa Airport
The Milan opening is part of Surprice Mobility's broader strategy to expand its corporate operations while increasing the use of technology across its network.
Read More →
Brazilian Executive MBA Targets Growing Domestic Rental Car Industry
Rental car companies face a unique combination of challenges that are rarely addressed in traditional programs.
Read More →
Green Motion Expands Into Japan With Master Franchise Agreement
Japan's tourism industry, business travel market, and demand for vehicle rental services are reasons the country represents an important market for the company.
Read More →
