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Avis Budget ( (CAR) ) has issued an update.
Avis Budget Group announced a leadership transition with CEO Joseph A. Ferraro moving to a Board Advisor role effective June 30, 2025, and Brian J. Choi, Chief Transformation Officer, stepping in as CEO from July 1, 2025. The company also named Jagdeep Pahwa as Executive Chairman effective March 1, 2025. The financial results for 2024 showed a net loss of $1.8 billion and an Adjusted EBITDA of $628 million, reflecting a strategic shift to accelerate fleet rotations in the Americas, which incurred a one-time non-cash impairment of $2.3 billion. Despite these figures, the company remains optimistic about achieving $1 billion in Adjusted EBITDA in 2025, bolstered by strong travel demand.
More about Avis Budget
Avis Budget Group is a leading global provider of mobility solutions, operating through its Avis, Budget, and Zipcar brands, with approximately 10,250 rental locations in 180 countries. The company primarily operates its car rental locations in North America, Europe, and Australasia, while using licensees in other regions. It is headquartered in Parsippany, N.J.
YTD Price Performance: 12.42%
Average Trading Volume: 572,843
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $3.06B
For an in-depth examination of CAR stock, go to TipRanks’ Stock Analysis page.
