The Car and Truck Fleet and Leasing Management Magazine

ANC Rental to Spend $1 Billion to Buy Up to 50,000 New Cars

February 12, 2002

ANC Rental Corp. has won court approval on Feb. 6 to use up to $1 billion of financing capacity by ARG Funding Corp., a wholly owned subsidiary of ANC, to purchase up to 50,000 vehicles. The company has started placing orders for delivery in early March in preparation for spring and summer when car rental volume peaks. ANC has reached an agreement with major auto manufacturers, including GM, DaimlerChrysler, Mitsubishi, Toyota, to supply it with vehicles.
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