Avis Car Rental
| Company type | Subsidiary |
|---|---|
| Industry | Car rental |
| Founded | January 1, 1946 in Ypsilanti, Michigan, United States |
| Founder | Warren Avis |
| Headquarters | Parsippany, New Jersey , United States |
Area served | North America, South America, Europe, India, Australia, New Zealand, South Africa |
Key people | Robert Townsend (former CEO) |
| Products | Car rental services |
| Parent | Avis Budget Group |
Avis Car Rental, LLC is an international car rental corporation with its main office located in Parsippany, New Jersey. It operates as a subsidiary under the umbrella of Avis Budget Group, alongside brands such as Budget Rent a Car, Budget Truck Rental, and Zipcar.
The Avis brand is managed by Avis Budget Group across regions including North America, South America, Europe, India, Australia, New Zealand, and South Africa. In 2011, the group broadened its reach by acquiring Avis Europe plc, which had previously functioned as an independent licensee of the Avis name.
Originally associated primarily with General Motors vehicles like Chevrolet, Avis has since diversified its fleet to include models from manufacturers like Ford and Toyota. The company was a pioneer in establishing car rental services at airports and mainly caters to corporate travelers at major airport hubs globally. Meanwhile, leisure rental services are frequently operated through franchise agreements at locations away from airports.
In January 2013, Avis Budget Group bolstered its presence in the car-sharing market by purchasing Zipcar for $491 million.
History
Established in 1946 by Warren Avis at Willow Run Airport, Ypsilanti, Michigan, the company experienced swift growth and became the second-largest car rental business in the United States by 1953. By 1956, it had expanded internationally with offices opening in Europe, Canada, and Mexico.
The slogan "We Try Harder," introduced in 1962 under CEO Robert Townsend, highlighted Avis’ competitive approach against market leader Hertz. This motto remained integral to the brand identity for five decades until it was replaced in 2012 with "It's Your Space," signaling a refreshed corporate vision.
In 1972, Avis introduced Wizard, the first computer-based reservation system for car rentals in the U.S., which played a crucial role in fostering customer loyalty through unique identifiers. The company further advanced fleet management in 1981 by deploying the Advanced Vehicle Identification System (AVIS), which utilized vehicle tracking technology.
Throughout its history, Avis has undergone numerous ownership changes and public offerings that have shaped its corporate evolution and strategic expansion. Significant ownership milestones include:
- 1956: Acquisition by The Amoskeag Company
- 1962: Investment by Lazard Freres
- 1965: Purchase by ITT Corporation
- 1977: Acquisition by Norton Simon
- 1983: Ownership transfer to Esmark
- 1984: Acquisition by Beatrice Foods
- 1986: Private equity buyout by Wesray Capital Corporation
- 1987: Majority stake held through Employee Share Ownership Plan
- 1989: General Motors acquiring a 29% interest
- 1996: Integration into HFS Corporation (later known as Cendant)
- 2001: Consolidation under Cendant
- 2006: Transition to ownership by Avis Budget Group
These changes underscore Avis’ strategic positioning within the global car rental market and have supported its growth in market share and financial strength through varied corporate frameworks and investments.