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Budget Rent a Car System, Inc. is an American car rental company that was founded in 1958 in Los Angeles, California by Morris Mirkin. [2] Budget is a subsidiary of the Avis Budget Group , with its operations headquartered in Parsippany , New Jersey.
In 2011, Avis Budget Group acquired Avis Europe, an independently owned company licensee, globally reuniting the Avis and Budget brands. [10] On September 5, 2012, Avis Budget Group acquired Apex Car Rentals of New Zealand. [11] On March 14, 2013, Avis Budget Group purchased carsharing company Zipcar for about US$500 million in cash. [12] [13]
On March 14, 2013, Avis Budget Group acquired Zipcar for approximately US$500 million. [6] Scott Griffith, who had run the company for the previous decade, resigned the day after the acquisition closed and passed the reins to a new company president, Mark Norman. [7] In early 2014, Kaye Ceille took over as Zipcar's North American president.
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The average transaction price for a new car in February was $47,244, according to Kelley Blue Book. That represents a 2.2% year-over-year drop -- but it's still crazy expensive for the average ...
The company was founded in 1946 with three cars at Willow Run Airport, [10] Ypsilanti, Michigan, by Warren Avis (August 4, 1915 – April 24, 2007). [8] It established branch operations across the United States over the next few years, becoming the second largest car rental company in the country by 1953.
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