Thrifty Car Rental
| Company type | Subsidiary |
|---|---|
| Industry | Car rental |
| Founded | 1958 |
| Founder | Bill Lobeck and associates (purchased in 1981) |
| Headquarters | Estero, Florida , United States |
Area served | Global |
| Products | Car rental services |
| Owner | Hertz Global Holdings |
Number of employees | 5400 (1997) |
| Parent | Hertz Global Holdings |
Thrifty Car Rental is a U.S.-based car rental company with its headquarters located in Estero, Florida. Operating on a global scale, it is a subsidiary of Hertz Global Holdings. Thrifty primarily serves budget-minded leisure travelers and operates alongside its sister brands, Hertz Rent A Car and Dollar Rent A Car.
History
Established in 1958, Thrifty was purchased in 1981 by Bill Lobeck and his associates. The company went public in 1987 and further expanded in 1989 by acquiring Snappy Car Rental, an Ohio-based firm. That same year, Chrysler Corporation bought Thrifty and incorporated it into its Pentastar Transportation Group. Shortly thereafter, Chrysler also acquired Dollar Rent A Car but divested Snappy Car Rental in 1994.
In 1997, Chrysler separated its rental division by launching Dollar Thrifty Automotive Group through an initial public offering aimed at cost reduction. By the conclusion of that year, the group managed 872 locations across the United States with a workforce of approximately 5,400 employees.
Data reflecting fleet size and locations illustrate the company's growth trajectory:
- 1999 - Combined Dollar and Thrifty operations included 149 company-owned locations in the U.S. with a fleet of 123,814 vehicles
- 2001 - A total of 130,252 vehicles served 540 U.S. sites, including 162 airport locations
- 2003 - Operations comprised 310 corporate-owned and 513 franchised locations within the U.S.
- 2006 - The U.S. corporate network expanded to 407 sites generating revenues of $1.53 billion
- 2010 - Thrifty maintained 331 locations throughout the U.S. and Canada
On November 19, 2012, Hertz declared its intent to acquire Dollar Thrifty Automotive Group for $2.3 billion, significantly increasing its share in the car rental market.
The COVID-19 crisis had a profound effect on business operations; on April 30, 2020, Hertz failed to meet fleet lease payment obligations and sought assistance from lenders to prevent bankruptcy. Subsequently, the company filed for Chapter 11 bankruptcy protection on May 22, 2020, but emerged successfully in early 2021.
Both Dollar and Thrifty have been subject to several class action lawsuits concerning deceptive rental charges in the United States, highlighting persistent regulatory issues within their operational framework.
Operations
Thrifty primarily caters to leisure travelers who are budget-conscious, focusing largely on airport-based rental services.
The Blue Chip Rental Express Program
Introduced in 2008 throughout the United States and Canada, Thrifty’s Blue Chip Express Rental Program aims to streamline customer service by offering faster vehicle pickup and return processes, options for vehicle selection and insurance coverage, dedicated service counters, and integration with airline loyalty programs. This initiative strengthens Thrifty’s position within the competitive car rental sector by enhancing customer loyalty and increasing market penetration.