Avis Budget Group, Inc.
Avis Budget Group Brings Connected Cars to Europe with Groupe PSA Partnership
PARSIPPANY, N.J., April 30, 2018 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc . (NASDAQ:CAR) today announced the addition of 6,000 Peugeot, Citroën and DS vehicles to its connected car rental fleet in Europe, with an additional 5,000 cars expected later this year. These vehicles will operate across the Company's Avis and Budget brands in Austria, Belgium, the Czech Republic, France, Germany, Italy, Luxembourg, the Netherlands, Portugal, Spain, Switzerland and the United Kingdom as well as the Maggiore brand in Italy. Connected cars provide customers with an enhanced and more personalized experience, while generating operational and fleet management efficiencies for the Company. Avis Budget Group expects all of its Peugeot, Citroën and DS vehicles to be connected by 2020.
"Leveraging the data from both connected cars and connected travelers enables us to achieve significant cost savings and margin improvements," said Mark Servodidio, president, International, Avis Budget Group. "Better information, delivered automatically and in real-time eliminates or reduces many of the manual tasks provided by field personnel, resulting in a better customer experience, a more efficient workforce and better maintained vehicles."
Part of the Company's commitment to reinventing the car rental experience is ensuring a seamless line of communication from the connected fleet to the Avis mobile app, for example, where travelers can access important information about their rental, change or upgrade their vehicle, locate their vehicle and more. Since the Avis mobile app's transformative launch in July 2016, usage has grown to over 1.25 million transactions from more than 360,000 unique customers, and has increased customer satisfaction ratings by 20%.
Avis Budget Group will have more than 100,000 connected cars globally this year and has committed to operating a fully connected global fleet by 2020. As part of this effort, earlier this year, Avis Budget Group commenced installations of 50,000 Unified Telematics Platform (UTP) devices, provided by I.D. Systems, more than doubling the Company's existing fleet of connected vehicles. Last month, the Company announced it had partnered with Toyota Motor Company to deploy 10,000 connected vehicles across the United States in 2018.
About Avis Budget Group
Avis Budget Group, Inc. is a leading global provider of mobility solutions, both through its Avis and Budget brands, which have more than 11,000 rental locations in approximately 180 countries around the world, and through its Zipcar brand, which is the world's leading car sharing network, with more than one million members. Avis Budget Group operates most of its car rental offices in North America, Europe and Australasia directly, and operates primarily through licensees in other parts of the world. Avis Budget Group has approximately 31,000 employees and is headquartered in Parsippany, N.J. More information is available at www.avisbudgetgroup.com .
This press release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Such risks and uncertainties include, but are not limited to, the anticipated benefits of connected vehicles and the anticipated timing of when the Company will have connected vehicles in its fleet. In light of these risks, uncertainties, assumptions and factors, the forward-looking events discussed in this press release may not occur. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date stated, or if no date is stated, as of the date of this press release. Important assumptions and other important factors that could cause actual results to differ materially from those in the forward-looking statements are specified in Avis Budget Group's Annual Report on Form 10-K for the year ended December 31, 2017, and in other filings and furnishings made by the Company with the SEC from time to time. The Company undertakes no obligation to release publicly any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events.
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