Avis Budget Group Banks On Strategic Plans For Growth
Zacks Investment Research | Oct 10, 2016 09:10PM ET
Avis Budget Group, Inc.’s (NASDAQ:CAR) expansion strategy has been in full swing via alliances, acquisitions and joint ventures. Additionally, we laud Avis’ focus on expanding its Budget brand, taking its multi-brand strategy to the next level.
Recently, Avis Budget announced that its car-sharing division, Zipcar has inked a deal with Zagster to introduce Zipbike. This will be the first national sponsored bike-share program designed for universities. The program will bring about a complete new dimension to campus mobility by making bike sharing an accessible option at colleges and universities.
The leading and the fastest-growing bike-share provider in the U.S., Zagster, currently operates 140 bike-sharing programs, out of which roughly two dozen work on college campuses.
We believe that this bike-sharing program will be truly helpful for students, faculty and other groups alike. Additionally, Zipbike is likely to become the chief collegiate bike-sharing brand across the nation.
Moreover, in a bid to enhance its global footprint, the company invests in other growing markets where car rental demand is on the rise. Some of the strategic initiatives in this connection include the company’s recent plans to acquire France Cars to expand its presence in the French market, partnering with Aeroflot – the largest Russian Carrier; its deal with TrueCar, and its partnership with Innovative Funding Services to extend its car sales program to Oregon.
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