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GM & Avis Sign 5-Year, 350,000 Vehicle Deal - Europe's Largest Fleet Partnership Agreement

November 10, 2003

General Motors Europe and Avis Europe have signed a five year fleet partnership which includes the supply of over 350,000 vehicles, shared fleet cost savings from new fleet initiatives, combined vehicle re-marketing channels and an enhanced joint brand marketing agreement. The agreement includes GM's Vauxhall/Opel, Saab and Daewoo products in Europe. It covers all Western and Central European markets and has an option to extend into the Middle East and Africa. As well as the supply of vehicles, the agreement entails a joint marketing effort, raising awareness of GME brands throughout the Avis business in Europe. In addition, both companies will join forces for the sale of Avis vehicles at the end of the rental, combining GME's and Avis's re-marketing strengths. Jonathan Browning, GME vice president of sales, marketing, and aftersales, said: "This agreement leverages Avis's fleet management expertise and provides us with an opportunity to get a broad spectrum of potential customers into vehicles from each of our brands. This approach will allow potential customers to experience our products first hand and at the same time ensure that the value of our vehicles is retained in their residual value through the resale process." Dieter Woitscheck, chief operating director of Avis Europe, commented: "This is the largest fleet deal in Europe, providing cost benefits for both parties. Our car rental customers and ex-rental car buyers will benefit from a wider range of newer vehicles. Any advances in GM's technology to further reduce the impact on the environment will be brought onto Avis's fleet." GM Europe is in the midst of a product offensive that will see some 58 new or significant variants in the European marketplace over a five year period.
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