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. (CAR) has now come up with a vehicle leasing program for its customers in Singapore.
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 Lanka.
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. (URI), Hertz Global Holdings Inc. (HTZ) and Ryder System Inc. (R).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
To read this article on Zacks.com click here.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
Be the first to comment