Welcome to our dedicated page for Avis Budget news (Ticker: CAR), a resource for investors and traders seeking the latest updates and insights on Avis Budget stock.
Avis Budget Group, Inc. (CAR) delivers innovative mobility solutions through its Avis, Budget, and Zipcar brands worldwide. This news hub provides investors and industry observers with timely updates on corporate developments shaping the vehicle rental and car-sharing sectors.
Access official press releases, financial disclosures, and strategic announcements covering key operational areas. Track updates on fleet management innovations, partnership expansions, and market leadership initiatives across North America, Europe, and Australasia.
Our curated news collection enables informed analysis of the company's premium rental services (Avis), value-focused solutions (Budget), and urban mobility platforms (Zipcar). Discover updates on licensing agreements, technological advancements in digital booking systems, and sustainability efforts within the transportation sector.
Bookmark this page for centralized access to CAR's evolving position in the competitive mobility landscape. Monitor critical updates including quarterly earnings reports, leadership changes, and industry recognition that impact long-term strategic positioning.
Avis Budget Group, Inc. (NASDAQ: CAR) is set to release its first quarter 2023 results after market close on May 1, 2023. The company will also host a conference call for institutional investors on May 2, 2023, at 8:30 a.m. Eastern time to discuss these results. Investors can participate by dialing (877)-407-2991 or accessing the call via their website. A web replay will be available post-call, and a telephone replay will be accessible until May 16, 2023. Avis Budget Group is a global leader in mobility solutions, operating major car rental brands and Zipcar, with over 10,000 locations across about 180 countries.
On March 29, 2023, the NYC Department of Transportation announced a significant expansion of the curbside carshare program, adding 270 new parking spaces, with over a third allocated to Zipcar. This expansion will triple the available on-street Zipcar spaces, improving access for New Yorkers. Over 100 additional vehicles will be added, enhancing service in neighborhoods like West Village and Kew Gardens Hills. Zipcar's membership costs $9 per month or $90 annually, with driving rates starting at $12.50 per hour. The initiative aims to provide sustainable and equitable transportation, contributing to a reduction in carbon emissions.
Avis Budget Group (NASDAQ: CAR) reported strong financial results for Q4 and the full year 2022. Q4 revenues reached $2.8 billion, an 8% increase from the previous year and 28% above Q4 2019. Full-year revenues surged 29% year-over-year to $12.0 billion, marking the highest in the company's history. Net income for Q4 was $424 million, while full-year net income reached a record $2.8 billion. The company also reported an adjusted EBITDA of $658 million for Q4 and $4.1 billion for the year. Avis Budget's liquidity was approximately $1.6 billion, with no significant debt maturities until 2024. The board approved a $1 billion increase to share repurchase authorization.
Zipcar is expanding its on-street vehicle access in New York City after a successful pilot program with the NYC Department of Transportation. Starting February 7, 2023, eighty new curbside parking spaces will be made available for Zipcar vehicles in Brooklyn, Queens, and the Bronx. This initiative aims to improve quality of life for nearly one thousand households by providing convenient access to shared vehicles. Zipcar has added 800 hybrid vehicles in 2022 and plans to increase its eco-friendly fleet. According to its 2022 North American Transportation Survey, 69% of members from marginalized communities reported improved quality of life since joining.
Avis Budget Group (NASDAQ: CAR) and EverCharge have launched numerous electric vehicle (EV) charging stations at George Bush International Airport in Houston, Texas, marking a significant advancement in rental EV infrastructure. This partnership aims to meet increasing rental demand for EVs and plug-in hybrid electric vehicles. EverCharge's SmartPower technology allows efficient energy management, facilitating the installation of more charging stations without overloading the existing power grid. The collaboration aligns with Avis Budget Group's commitment to sustainability and reducing greenhouse gas emissions by 30% by 2030.
Avis Budget Group (NASDAQ: CAR) has announced the upcoming release of its fourth quarter 2022 results, scheduled for after market close on February 13, 2023. A conference call for institutional investors to discuss these results will take place on February 14, 2023, at 8:30 a.m. Eastern time. Investors can access the call online or by phone, with a replay available afterward. Avis Budget Group is a global leader in mobility solutions, with over 10,000 rental locations across approximately 180 countries, operating primarily through its Avis and Budget brands.
