Avis returns with first rental car ABS of 2021

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Avis returns with first rental car ABS of 2021

Jennifer Kang
May 10, 2021 06:15 PM
Car 575 375
(200509) -- SOUTHAMPTON, May 9, 2020 (Xinhua) -- Photo taken on May 8, 2020 shows new vehicles for sale stored at Southampton Dock in Southampton, Britain. New car registration in Britain plunged by 97.3 percent in April, hitting a record low in decades as the nation was in lockdown for the entire month to tackle the novel coronavirus, according to a report released Tuesday. With showrooms closed and car buyers housebound, just 4,321 new cars were registered in the month, merely above the 4,044 units sold in February 1946, said the Society of Motor Manufacturers and Traders (SMMT) in the report. (Photo by Tim Ireland/Xinhua) | unreguser/Xinhua News Agency/PA Images

Rental car company Avis is looking to get a securitization deal done for the first time since its blockbuster deal in August 2020. Despite the headwinds of the pandemic, the firm achieved its best Ebitda margin ever in the first quarter thanks to aggressive cost cutting measures and returning demand for travel.

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