Background of Thrifty Car Rental
Thrifty Car Rental is a internationally renowned car rental company that offers customers convenient and affordable transportation options. Established in 1958 in California, Thrifty has grown to become one of the largest rental car providers in the world. They have offices located in over 85 countries, serving travelers of all kinds, from business people to vacationers. With an impressive fleet of vehicles, Thrifty’s services includes luxury cars, vans, and even electric vehicles. In addition, Thrifty also offers a wide variety of accessories, such as windsurfing boards, bikes, golf clubs, and GPS navigation systems.
Budget Group Owns Thrifty Car Rental
The parent company of Thrifty Car Rental is a subsidiary of The Avis Budget Group, Inc. Avis Budget Group is one of the world’s leading transportation solutions providers and is listed on the New York Stock Exchange under the ticker symbol “CAR.” The company has two main operating divisions: Avis and Budget. Avis is one of the world’s oldest and largest rental car brands and is focused on the premium rental car and truck rental market. Budget is a global leader in the mid- to low-priced segment and is a popular choice for cost-conscious travelers.
Avis and Budget Acquisition
The Avis Budget Group was formed in 2006 when Cendant Corporation spun off its car rental business and created the publicly traded Avis Budget Group. Following the spinoff, Avis Budget Group then acquired the Dollar Thrifty Automotive Group, which included Thrifty Car Rental, in 2012. Since the acquisition, there have been joint efforts to streamline operations, most notably in areas such as customer service, business efficiencies, marketing, and customer loyalty programs.
Thrifty Brand Growth
Since the acquisition, the Avis Budget Group has made significant investments in the Thrifty brand in order to create a more customer-focused, customer-centric business model. These investments have resulted in the introduction of additional services and amenities for customers, such as express check-in, Hertz Neverlost GPS, and unlimited mileage on select car rentals. In addition, Thrifty has also rolled out attractive discounts and promotions to entice travelers, such as discounted weekend rates, discounts for AAA and US military personnel, and exclusive deals for booking online.
Insights and Analysis
Overall, the Avis Budget Group’s acquisition of Thrifty Car Rental has proven to be a success, as it has allowed Thrifty to tap into the combined resources of both Avis and Budget. The investments in the Thrifty brand have paid off, with an increase in customers utilizing Thrifty’s services, as evidenced by the rising number of bookings over the years. Furthermore, the introduction of new services, amenities, and discounts has resulted in an improved customer experience, making Thrifty a more attractive option for customers. Finally, the Avis Budget Group’s scale and financial stability have enabled Thrifty to expand its global presence.
Impact on the Car Rental Industry
The Avis Budget Group’s acquisition of Thrifty has also had a major impact on the car rental industry, as it has further consolidated the industry. This consolidation has resulted in more competition and a more dynamic environment, which has caused the major players, such as Hertz and Enterprise, to focus on improving their services and competing more aggressively on pricing. In addition, the increased competition and more dynamic environment has led to greater customer choice and more competitive prices, which is beneficial for customers.
Efficiency Efficiency and Technology Adoption
The Avis Budget Group has also enabled Thrifty to become more efficient in its operations and business practices. This includes streamlining operations and embracing new technologies that allow customers to book online, pay online, and check in all from the comfort of their own homes or wherever they may be. As a result, Thrifty is saving time, money, and energy on its operations, giving it a competitive edge in the marketplace.
Environmental Concerns
The Avis Budget Group has also enabled Thrifty to respond to increasing customer demand regarding environmental concerns. As such, the company has taken steps to reduce its environmental footprint and embrace more sustainable practices. This has included switching to a fleet of more fuel-efficient vehicles, investing in renewable energy sources, and encouraging customers to reduce their carbon footprint as well.
Social Responsibility
The Avis Budget Group has also allowed Thrifty to be more socially responsible in its operations. In recent years, the company has taken important steps to give back to the communities in which it operates, as well as to reduce its impact on the environment. This includes offering discounts and special deals to customers who are members of specific affinity groups, as well as creating partnerships with charitable organizations.
Marketing Strategies
The Avis Budget Group has also enabled Thrifty to focus its marketing efforts more on digital and social media platforms, such as email, text, and mobile applications. The company has made a concerted effort to target its messaging to its target market, making use of these digital channels to reach a wider audience that is more likely to book with Thrifty. In addition, the company has also taken steps to develop loyalty programs and reward customers for their business.
Conclusion
Overall, the Avis Budget Group’s acquisition of Thrifty Car Rental has proven to be a success, as it has enabled Thrifty to become more efficient, more socially responsible, and more competitive in the marketplace. Through strategic investments, the company has improved its customer service, developed new services and amenities, and embraced new technologies that have improved the customer experience. In addition, the company has taken steps to ensure it is conscious of its environmental impact, as well as its social responsibility. Finally, the company has also improved its marketing efforts to better target its customers and encourage loyalty.
