PARSIPPANY, N.J., Dec. 17, 2018 (GLOBE NEWSWIRE) — Avis Budget Group, Inc. (NASDAQ: CAR) will connect an additional 75,000 vehicles to its cloud-based, next generation platform through the installation of in-vehicle telematics devices provided by I.D. Systems, Inc. (NASDAQ: IDSY). The new agreement builds on the successful deployment of 50,000 units during the past year. I.D. Systems’ wireless in-vehicle management system permits two-way data communications between a vehicle and Avis Budget Group’s cloud-based system and its mobile apps, effectively “connecting” the car.
“We’re taking advantage of both OEM and third-party solutions as we move closer to our industry-leading goal of a fully connected fleet in 2020,” said Arthur Orduña, chief innovation officer, Avis Budget Group. “I.D. Systems’ telematics enable us to quickly integrate a variety of makes and models of vehicles to our next-generation connected car management platform, enabling new efficiencies and services benefiting both our business operations and our rental customers.”
Connected vehicles allow Avis customers to manage their entire experience through the Avis mobile app, including choosing the type of vehicle they want to drive and extending the duration of their reservation. Even returning a vehicle is automated with connected technology, allowing customers to drop off their vehicles through a simple tap in the Avis app.
In addition, the connected fleet offers Avis Budget Group significant opportunity to streamline operations and reduce costs. This includes real-time inventory counts, mileage management and automated maintenance notification. Having a fleet of connected cars enables more sophisticated tracking of idle vehicles, and automated processing of cars ready to rent.
The new units will support both the Avis and Zipcar mobile apps, meaning Avis Budget Group can more easily position vehicles across the brands to meet periods of high demand or for other business reasons. They also enable utilization in Europe, and Avis Budget Group will begin testing them in select markets in 2019.
“This new agreement continues our many years of working hand-in-hand with Avis Budget Group to develop, build and implement innovative technology that enables Avis Budget Group to achieve their connected fleet and business transformational goals,” said Chris Wolfe, chief executive officer of I.D. Systems.
About Avis Budget Group
Avis Budget Group, Inc. is a leading global provider of mobility solutions, both through its Avis and Budget brands, which have more than 11,000 rental locations in approximately 180 countries around the world, and through its Zipcar brand, which is the world’s leading car sharing network, with more than one million members. Avis Budget Group operates most of its car rental offices in North America, Europe and Australasia directly, and operates primarily through licensees in other parts of the world. Avis Budget Group has approximately 31,000 employees and is headquartered in Parsippany, N.J. More information is available at www.avisbudgetgroup.com.
About I.D. Systems
Headquartered in Woodcliff Lake, N.J., with subsidiaries in Texas, Germany, and the United Kingdom, I.D. Systems, Inc. is a leading global provider of wireless M2M solutions for securing, controlling, tracking, and managing high-value enterprise assets, including rental cars, industrial vehicles, trailers, containers, and cargo. The Company’s patented technologies address the needs of organizations to monitor and analyze their assets to increase efficiency and productivity, reduce costs, and improve profitability. For more information, please visit www.id-systems.com.
Forward-Looking Statements
This press release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Such risks and uncertainties include, but are not limited to, the anticipated benefits of connected vehicles and the anticipated timing of when the Company will have connected vehicles in its fleet. In light of these risks, uncertainties, assumptions and factors, the forward-looking events discussed in this press release may not occur. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date stated, or if no date is stated, as of the date of this press release. Important assumptions and other important factors that could cause actual results to differ materially from those in the forward-looking statements are specified in Avis Budget Group’s Annual Report on Form 10-K for the year ended December 31, 2017, and in other filings and furnishings made by the Company with the SEC from time to time. Except to the extent required by applicable federal securities laws, the Company undertakes no obligation to release publicly any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events.
CONTACT: Contacts: Alice Pereira Avis Budget Group (973) 496-3916 [email protected] Mike Hardman Hardman Group for I.D. Systems (330) 285-4141 [email protected]
