Avis Budget Group Moves Closer to a Fully Connected Fleet with New Toyota Partnership
- 10,000 Connected Toyota Vehicles Bound for Locations Across the United States
- Deal Leverages Toyota's Proprietary Mobility Services Platform (MSPF) to Enhance Customer Rental Experience and Increase Fleet Efficiency
PARSIPPANY, N.J., March 12, 2018 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ:CAR) today announced a multi-year deal that will add 10,000 Toyota vehicles to Avis Car Rental's expanding fleet of connected vehicles. The services provided through Toyota's MSPF will benefit both Avis customers — through an enhanced and more personalized experience — and the Company through improved informatics, fleet management and operational efficiency.
"As connected car technology continues to evolve in the auto industry, we are rapidly adapting our fleet and rolling this technology out to our locations," said Arthur Orduña, executive vice president and chief innovation officer, Avis Budget Group. "These advancements further improve our fleet management capabilities, which enables us to provide Fleet Management as a Service (FMaaS), while also enhancing the customer experience with time savings and mobile app integration. We're a step closer to a fully connected fleet and ultimately moving towards a new future for our business."
Part of Avis' commitment to reinventing the car rental experience is ensuring a seamless line of communication from the connected fleet to the Avis mobile app, 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 one million transactions from more than 350,000 unique customers, and has increased customer satisfaction ratings by 20 percent.
Avis Budget Group has committed to operating a fully connected global fleet by 2020, and will have 100,000 fully connected cars in the United States this year. As part of this effort, earlier this month, Avis Budget Group commenced installations of 50,000 Unified Telematics Platform (UTP) devices, provided by I.D. Systems, more than doubling Avis Car Rental's existing fleet of connected vehicles. Connected Toyota vehicles are expected to be available this September as 2019 vehicle models are introduced into the fleet.
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. Except to the extent required by applicable federal securities laws, 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.
Contacts: Alice Pereira Avis Budget Group (973) 496-3916 PR@avisbudget.com Ming-Jou Chen Toyota (469) 292-3799 email@example.com