Zipcar Continues Expansion as Avis Budget Group Fights Reduced U.S. Car Rental Demand
Photo Credit: A woman scanning her card on a Zipcar Toyota Prius. Zipcar
Skift Take
Avis Budget Group's rental business in the U.S. was unexpectedly weak in early 2016. The good news is that a European car rental resurgence seems to be in the offing for the company.
Diminished international demand for car rentals in the U.S., due to the strong U.S. dollar, hurt Avis Budget Group's earnings in the first quarter of 2016.
January and February were especially weak months, despite the company's efforts to ensure its car rental fleet was correctly sized in its top markets. Pricing was down five percent year-over-year, but the company's soft results are being viewed as "anomalous" by Avis Budget Group leadership.
"We believe that currency exchange rates
