www.avisbudgetgroup.com

The Avis Budget Group has revealed that it is expecting bigger savings than initially thought through its cost cutting, but added it is not related to their head count.

Car rental agents have been hit hard by the recession across the world with customers having to save on spending and the second hand motor trade losing momentum. The current climate sent some car companies into bankruptcy protection. This prompted Avis to act. They started with job cuts and then moved onto merging some of their regional offices in an effort to save money.

Last month Avis said that they had found more ways on saving money in operation and contact centres. They say by the end of the financial year they expect to have saved around $200 million.

Avis are expecting a high percentage of revenue loss going into this part of the year but are confident of an increase in the second part. They are already starting to downsize their fleet of cars in call with demand, something that will be easier as the second hand car market is slowly coming back.

Avis shares are doing quite well now after hitting an all time low of just 34 cents in the early part of this year.

Thanks to www.online.wsj.com for the above information, for more on this article please visit their website.

www.avisbudgetgroup.com