Because of the travel slump and economic slowdown, both Dollar Thrifty Automotive Group Inc. and Hertz reported major drops in third-quarter profits compared to last year’s figures. However, Budget reported a 76.5% increase in net income for the quarter compared to last year –- largely a result of fleet reduction, cost-cutting measures and gains in truck rental operating income.

Dollar Thrifty’s third-quarter net income fell to $6 million, compared to $36 million for the same quarter a year earlier. Revenue declined 7.2% to $299.6 million from $323 million. Dollar Thrifty said it expects fourth-quarter revenues per day to be down 4% to 5%.

Ford Motor Co. reported that Hertz’s third-quarter net income was $26 million, down 82% from last year’s third-quarter profit of $143 million. Hertz’s third-quarter revenue was down about 4%, from $1.43 billion in 2000 to $1.37 billion in 2001.

Budget Group reported its net income for the quarter was $48.2 million, versus $11.3 million for the same quarter in 2000.

Budget’s operating revenue for the quarter totaled $610.1 million, compared to $702.2 million for the same period last year. But total operating expenses dropped from $605 million in 2000 to $495.2 million in 2001. Budget said it expects fourth-quarter daily revenues to be down about 13% and volume to be down about 8%, compared to 2000 levels.

Cendant Corp., parent company of Avis Rent A Car System, reported that the company’s car rental revenue for the third quarter totaled $649 million –- an 11.5% drop from Avis’ car rental revenue totals in the same period last year. Cendant acquired Avis in March.