After gaining profound success in its Consumer Car Sales program
across the United States and strategically expanding its rental
operations across the globe, Avis Car Rental, a unit of
Avis Budget Group Inc.
) has now come up with a vehicle leasing program for its customers
The company has now started leasing Audi cars in Singapore under
its newly launched 'Audi Prestige Series Car Leasing' program.
Under the program, the company offers top-class Audi models,
including A3, A4, A6, Q5, Q3 1.5 and 2.0, which can be leased for
about one to five years. The program has gone on air since the
beginning of Jul 2014.
This program will enable customers to get access to a wide range of
Audi cars with reasonable leases, affordable terms and down payment
options that suit their lifestyle. The program spares customers
from the hassles and worries of open market value (OMV),
registration fees, excise duty, goods and services tax (GST) and
the certificate of entitlement (COE) to drive these cars.
Avis' legacy of Asian operations began in 1970, with the opening of
its first car rental service point in Hong Kong. Later in 1972, the
company added more locations by launching operations in Singapore,
the Philippines, Malaysia, Indonesia, Brunei, Pakistan and Sri
Since then, the company has managed to expand its operations in
these existing regions. Today, the company operates in 18 markets
including India, Mainland China and Vietnam. Moreover, Avis
operates in over 300 locations in the continent, providing
effective vehicle rental, vehicle leasing and limousine/premium
chauffeur services through a network of wholly owned subsidiaries,
joint ventures and licensee agreements.
Avis Budget Group is the leading vehicle rental company in North
America, Australia and New Zealand. Moreover, a formidable network
of more than 10,000 rental locations and 350,000 vehicles enable
the company to strengthen its well-established position in a highly
competitive vehicle rental industry.
This Zacks Rank #2 (Buy) company follows a core global strategy of
collaborating with leading travel brands to expand its customer
reach while creating additional demand. In March this year, Avis
successfully completed the acquisition of the world's leading car
sharing network company, Zipcar Inc. for a total value of $500
million. We believe that the strategic move will facilitate the
company to expand its offerings from car rental to car sharing and
compete with rivals such as United Rentals Inc. (
), Hertz Global Holdings Inc. (
) and Ryder System Inc. (
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