Avis Budget Group Files 2024 10-K

Ticker: CAR · Form: 10-K · Filed: Feb 14, 2025 · CIK: 723612

Avis Budget Group, INC. 10-K Filing Summary
FieldDetail
CompanyAvis Budget Group, INC. (CAR)
Form Type10-K
Filed DateFeb 14, 2025
Risk Levelmedium
Pages15
Reading Time18 min
Key Dollar Amounts$11.8 billion, $6.8 billion, $4.3 billion, $143 m
Sentimentneutral

Sentiment: neutral

Topics: 10-K, annual-report, automotive

TL;DR

Avis Budget Group filed its 2024 10-K, detailing financials for the year ending Dec 31, 2024.

AI Summary

Avis Budget Group, Inc. filed its 2024 10-K on February 14, 2025, reporting on its fiscal year ending December 31, 2024. The company, a leader in the auto rental and leasing industry, is incorporated in Delaware and headquartered in Parsippany, NJ. The filing details its financial performance and operational status for the year.

Why It Matters

This filing provides investors and analysts with a comprehensive overview of Avis Budget Group's financial health and strategic direction for the past fiscal year, influencing investment decisions.

Risk Assessment

Risk Level: medium — The filing is a standard annual report and does not inherently indicate new or elevated risks.

Key Numbers

Key Players & Entities

FAQ

What is the primary business of Avis Budget Group, Inc.?

Avis Budget Group, Inc. is primarily involved in the Services-Auto Rental & Leasing (No Drivers) industry, with SIC code 7510.

When was the 2024 10-K filing submitted to the SEC?

The 10-K filing for the fiscal year ended December 31, 2024, was filed as of February 14, 2025.

Where is Avis Budget Group, Inc. headquartered?

Avis Budget Group, Inc. is headquartered at 379 Interpace Parkway, Parsippany, NJ 07054.

What is the SEC file number for Avis Budget Group, Inc.?

The SEC file number for Avis Budget Group, Inc. is 001-10308.

What is the state of incorporation for Avis Budget Group, Inc.?

Avis Budget Group, Inc. is incorporated in Delaware (DE).

Filing Stats: 4,425 words · 18 min read · ~15 pages · Grade level 20 · Accepted 2025-02-14 16:02:02

Key Financial Figures

Filing Documents

Signatures

Signatures 49 Table of Contents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS Certain statements contained in this Annual Report on Form 10-K may be considered "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained herein are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause our actual results, performance or achievements to be materially different from those expressed or implied by any such forward-looking statements. Forward-looking statements include information concerning our future financial performance, business strategy, projected plans and objectives. These statements may be identified by the fact that they do not relate to historical or current facts and may use words such as "believes," "expects," "anticipates," "will," "should," "could," "may," "would," "intends," "projects," "estimates," "plans," "forecasts," "guidance," and similar words, expressions or phrases. The following important factors and assumptions could affect our future results and could cause actual results to differ materially from those expressed in such forward-looking statements. These factors include, but are not limited to: the high level of competition in the mobility industry, including from new companies or technology, and the impact such competition may have on pricing and rental volume; a change in our fleet costs, including as a result of a change in the cost of new vehicles, resulting from inflation, tariffs or otherwise, manufacturer recalls, disruption in the supply of new vehicles, including due to labor actions, tariffs or otherwise, shortages in semiconductors used in new vehicle production, and/or a change in the price at which we dispose of used vehicles either in the used vehicle market or under repurchase or guaranteed depreciation programs; the results of operations or financial condition of the manufacturers of our vehicles, which could impact their ability to perform

BUSINESS

ITEM 1. BUSINESS Except as expressly indicated or unless the context otherwise requires, the "Company," "Avis Budget," "we," "our" or "us" means Avis Budget Group, Inc. and its subsidiaries. Unless the context requires otherwise, these references and references to our brands do not include the operations of our licensees, as further discussed below. OVERVIEW We are a leading global provider of mobility solutions through our three most recognized brands, Avis, Budget and Zipcar, as well as several other brands, well recognized in their respective markets. Our brands offer a range of options, from car and truck rental to car sharing. We license the use of the Avis, Budget, Zipcar and other brands' trademarks to licensees in areas in which we do not operate directly. We and our licensees operate our brands in approximately 180 countries throughout the world. We generally maintain a leading share of airport car rental revenues in North America, Europe and Australasia, and we operate a leading car sharing network and one of the leading commercial truck rental businesses in the United States. We believe the range of options from our diversified brands enjoy complementary demand patterns with mid-week commercial demand balanced by weekend leisure demand. On average, our global rental fleet totaled approximately 695,000 vehicles in 2024. We completed over 38 million vehicle rental transactions worldwide and generated total revenues of approximately $11.8 billion during 2024. Our brands and mobility solutions have an extended global reach with approximately 10,250 rental locations throughout the world, including approximately 3,800 locations operated by our licensees. We categorize our operations into two reportable business segments: Americas - consisting primarily of (i) vehicle rental operations in North America, South America, Central America and the Caribbean, (ii) car sharing operations in certain of these markets, and (iii) licensees in certain areas in wh

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