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New
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Avis Budget shares tumble 14% as EV fleet challenges drive Q4 loss, revenue miss
Avis Budget Group (NASDAQ:CAR) shares fell 14% after the company reported a Q4 revenue miss and a significant loss, largely due to $518 million in impairment charges related to its U.S. electric vehicle fleet. Despite these challenges, the company’s CEO, Brian Choi, stated that Avis is focusing on fleet discipline and strengthening its balance sheet for sustainable earnings growth in 2026. The Q4 revenue was $2.7 billion against an expected $2.75 billion, and the company reported a loss of -$21.25 per share.