Dollar Thrifty Automotive Group

Thrifty Ford Transits at the Basingstoke, UK premises

Dollar Thrifty Automotive Group (DTAG) (formerly NYSE: DTG) is a holding company for Thrifty Car Rental and Dollar Rent-A-Car. Formed in 1990 by Chrysler, the company began operating independently in 1997. In November 2012, it was acquired by Hertz Global Holdings in a $2.3 billion deal.[1]

The company previously owned Snappy Rent-a-Car (sold in 1994), Eurodollar, and General Rent-a-Car (which ceased operations in 1993). It is headquartered in Tulsa, Oklahoma.

Prior to 2009, the company primarily rented Chrysler, Dodge, and Jeep vehicles within the United States. Some locations were an exception and featured other brands such as Mazda, Nissan, or Toyota. In October 2009, the company announced its decision to move away from its traditional reliance on Chrysler Group vehicles. The objective of this decision was to better diversity their fleet vehicles.[2]

DTAG was a Fortune 1000 company and operated in over 1,475 locations worldwide with over 835 sites in the United States. In 2006, the company outsourced its IT operations to EDS. As of October 2009, the company had approximately 7,000 employees, 700 of whom were located in Tulsa.[2]

Thrifty Car Rental

Thrifty Car Rental

Thrifty Car Rental was founded in 1958. From 1981 to 1989, Thrifty Automotive was owned by an investment group of William Lobeck, Alvin Swanner of New Orleans and Archer McWhorter of Houston. [3] It became a public company in 1987. Chrysler purchased the company in 1989 and, in 1990, combined it with Dollar Rent-A-Car.

Together with its corporately-owned locations and those of its franchise owners, the Thrifty Car Rental brand has more than 1,028 locations in 68 countries.

Most locations in the United States and Canada offer a Blue Chip Express Rental Program to expedite the rental process for business travelers.

Dollar Rent A Car

Dollar Rent A Car

Formerly known as Dollar A Day Rent-A-Car, Dollar Rent-A-Car was founded in 1965 by Henry Caruso in Los Angeles, California. The company was purchased by Chrysler for an undisclosed amount on August 15, 1990.[4]

The Hertz Corporation acquired Dollar Thrifty Automotive Group, Inc. for $2.3 billion in 2012. At the time of transaction the company's stock market share was worth $87.50.[5] Dollar Thrifty has more than 647 worldwide locations in 53 countries. The brand was largely present in Europe, the Caribbean, and Latin America while operating more than 358 sites in the United States and Canada.[6]

Kathryn Marinello was appointed CEO of Hertz Global Holdings in December 2016 which encompasses both Dollar and Thrifty entities.[7]

See also

References

  1. ↑ "Hertz completes Hertz Dollar Thrifty Purchase Cleared by U.S. Regulator". Bloomberg News. November 16, 2012. Retrieved January 19, 2015. (Subscription required (help)).
  2. 1 2 D.R. Stewart, "Dollar Thrifty diversifies fleet brands", Tulsa World, October 12, 2009.
  3. ↑ Levin, Doron P. (May 19, 1989). "Chrysler to Buy Thrifty Rent-A-Car". The New York Times. Retrieved September 17, 2016.
  4. ↑ "Chrysler to acquire Dollar Rent Car". Chicago Tribune. June 27, 1990. p. 1, Sec 3. Retrieved March 29, 2017.
  5. ↑ "Hertz buying Dollar Thrifty for about $2.3B". CBS MoneyWatch. August 27, 2012. Retrieved March 22, 2017.
  6. ↑ Dallos, Robert E. (June 27, 1990). "Chrysler to Purchase No. 4 Dollar Rent a Car". Los Angeles Times. Retrieved March 22, 2017.
  7. ↑ Gentler, Lauren (December 13, 2016). "With Icahn's Blessing, Hertz Names A New CEO". Forbes. Retrieved March 23, 2017.
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