Press Release Details
From First to Market to the International Leader, Avis Celebrates 10th Anniversary of China Operations
PARSIPPANY, N.J., March 4, 2013 (GLOBE NEWSWIRE) -- Avis Car Rental today announced its 10th anniversary in the People's Republic of China. Established in 2003 as a joint venture with Shanghai Automotive Industry Corporation, one of the largest car manufacturers in China, Avis China was the first joint venture car rental company in the country.
Today, China is the world's third ranked tourism destination* and Avis China is the leading international car rental company in the country, with more than 170 service locations in more than 40 cities. The Company is a popular choice among leisure travelers celebrating China's "Spring Festival" and other major holidays, and is also respected among corporate clients such as Bosch, General Electric, Siemens and Tyco.
"Rental vehicles continue to be in high demand in China; in fact, we have had double-digit growth for the past five years," said Patric Siniscalchi, president, Latin America/Asia Pacific, Avis Budget Group. "We're proud to deliver the kind of service that travelers trust and we look forward to continued strong growth for many years to come."
In 2012, the revenues of Avis' 50 percent-owned joint venture in China grew 22 percent, to more than $100 million.
Avis provides travelers in China with a wide range of well-maintained, late-model vehicles from well-known brands, including Buick and Volkswagen. Travelers can choose from car classes that range from economy to mini-buses and can enjoy Avis' world-class service, including Avis Preferred, the Company's express rental service, premium chauffeur service, Global Positioning System (GPS) navigation devices, vehicle damage coverage and personal property protection packages, and vehicle leasing services.
Avis China was recently recognized as "Asia's Leading Business Car Rental Company" and "Asia's Leading Car Hire" at the World Travel Awards. Avis has held the Leading Car Hire title for seven consecutive years. Avis China was also named "Best Car Rental Company" at the "China Tourism 2012 Gold List Awards," hosted by the popular National Geographic Traveler China magazine.
*Source: World Tourism Organization (UNWTO) Tourism Highlights, 2012 Edition
About Avis
Avis Car Rental operates one of the world's best-known car rental brands with approximately 5,200 locations in more than 165 countries. Avis has a long history of innovation in the car rental industry and is one of the world's top brands for customer loyalty. Avis is owned by Avis Budget Group, Inc. (Nasdaq:CAR), which operates and licenses the brand throughout the world. For more information, visit www.avis.com.
The Avis Car Rental logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=11593
CONTACT: Alice Pereira
973.496.6113
alice.pereira@avisbudget.com