Budget Rent A Car

Budget Rent A Car is one of the largest car rental companies in the world, and has been in operation since 1958. Operating in approximately 2,750 locations in more than 120 countries, Budget is a wholly-owned subsidiary of Avis Budget Group, Inc. The Avis Budget Group operates approximately 750 Budget locations themselves, the remaining locations are licensed operators of what's known as the "Budget System". Of the 800 Budget locations in the U.S., 600 are operated by the Avis Budget Group, the remaining 200 are licensees, and may offer different vehicles and deals that those at the company-operated locations. Internationally the count is 150 company-operated locations versus 1,800 licensees.

Budget History

Budget was founded in 1958 in Los Angeles, California, by Morris Mirkin. The company grows quickly, both nationally and internationally, and was purchased in 1986 by Transamerica Corp. In 1997 Budget was purchased by Team Rental Group, Budget's largest U.S. franchisee, and changed it's name to Budget Group, Inc., and begin trading on the NYSE. In 1998 Budget introduced "Fastbreak", its express service. In 2002 Budget Group was de-listed from the NYSE and sold all its worldwide assets (other than Europe) to Cendant Corporation. European assets were sold to Avis Europe, Plc. In 2006, Cendant Corporation separated into four independent companies: the real estate division became Realogy, Inc., the hospitality division became Wyndham Worldwide, the travel distribution services division became Travelport, Inc., and was sold to The Blackstone Group. The remainder of Cendant was comprised of the vehicle rental services division, and was renamed Avis Budget Group.

Website Information

Website: Budget.com
Locations: Budget location search
Specials: Budget specials

Frequent Renter Information

Called Fastbreak, Budget's frequent renter program let's you rent with one click online, and bypass the counter when picking up your vehicle. You must rent at least three times each calendar year to stay as a member of Fastbreak. Additionally, with the Rent More, Save More program, you save 10-20% off future rentals after completion of your first eligible rental (for a period of 365 days after your last completed eligible rental).

Frequent Renter URL: Fastbreak

Financial Information

The Avis Budget group trades on the NYSE under the symbol CAR.

View the full CAR chart at Wikinvest

Budget Rent a Car News


Businessweek

Rental-Car Chains Bask in the Power of Higher Prices
Businessweek
These are blessed days in the land of rental cars. Despite a wave of auto recalls this year that have required some costly shuffling in their fleets, the three main U.S. auto rental companies—Enterprise, Avis Budget Group (CAR) and Hertz Global ...

and more »

Business Insider

Car Rental Firm Hertz Is Latest Victim Of Auto Recalls
Business Insider
Hertz, Avis Budget Group Inc and market leader Enterprise Rent-A-Car control about 90 percent of the U.S. car rental market. The recalls have hurt business. And more so Hertz, than Avis, since cars made by General Motors Co account for a bigger portion ...
Hertz's Stock Falls After Car Rental Firm Pulls ForecastNewsmax.com
Hertz falls as review prompts company to withdraw 2014 forecastNorthJersey.com

all 155 news articles »

Boston Globe

Don't smoke? You can still be hit with a hotel or rental car fee
Boston Globe
But not as irrational as charging customers for something they didn't do. Consider what happened to Angelo Figueroa when he rented a car from Budget in New York recently. ''When I returned the car, the representative mentioned that it smells like smoke ...


UPDATE 4-Car rental firm Hertz is latest victim of auto recalls
Reuters
Hertz, Avis Budget Group Inc and market leader Enterprise Rent-A-Car control about 90 percent of the U.S. car rental market. "They (Hertz) weren't able to get the benefit of a strengthening market because they simply didn't have the cars," Michael ...


Forbes

Fall Budget Challenge: 3 Financial Advisers Share Their Secrets
Forbes
But did you also account for the extra babysitting you may need, thanks to parent-teacher conferences; the higher gas bills you'll probably foot for road-tripping older kids to college, or the added cost of prepping your car for the winter? ... Here's ...


Budget Car Rental Serves All of Canada With Vehicles Perfect for Any Travel ...
GlobeNewswire (press release)
PARSIPPANY, N.J., Aug. 11, 2014 (GLOBE NEWSWIRE) -- For more than 50 years, Budget Car Rental has been serving Canada's residents and visitors alike with outstanding service and quality vehicles, ranging from high-performance sports cars to pickup ...


County officials consider increasing taxes to reduce deficit
Farmington Daily Times
Editor's note: San Juan County officials are considering many options to reduce an anticipated $6 million budget deficit. The Daily Times is examining some of those options — including tax hikes and layoffs — and the anticipated impacts in a three ...


Hertz investor presses board to replace CEO Frissora
Automotive News
Hertz Global Holdings Inc. investor Fir Tree Partners, which holds more than 3 percent of the stock, is urging the company's board to replace CEO Mark Frissora because the firm disapproves of how he's running the car-rental provider. Fir Tree, which ...


USA TODAY

How safe is your rental car?
USA TODAY
To their credit, most major rental firms have offered support, including Alamo, Avis, Budget, Dollar, Enterprise, Hertz, National and Thrifty. But according to the nonprofit organization Consumers for Auto Reliability and Safety (C.A.R.S.), the ...

and more »

Hertz plunges after saying 2014 results to miss forecast
Naples Daily News
In addition to a record level of auto recalls, Hertz said it's experiencing higher-than-expected operating expenses in the U.S. rental-car market and soft demand in its equipment-rental business. The company also highlighted delays with the ...

References

1. Milestone Events, The history of Budget Rent a Car, Inc.: Budget Rent a Car. Retrieved May 2, 2011.
2. 2010 Annual Report: Avis Budget Group. Retrieved May 3, 2011.
3. Our Factsheet: Budget Rent a Car. Retrieved May 3, 2011.
3. Company Information: Avis Budget Group. Retrieved May 3, 2011.