PARSIPPANY, N.J. — Avis Budget Group, Inc. (Nasdaq:CAR) this week introduced the Ultimate Test Drive, a new program designed to respond to consumer demand for the purchase of well-maintained used cars. The initiative, in collaboration with AutoNation, Inc., America’s largest automotive retailer, will offer consumers a wide selection of late-model Avis and Budget rental vehicles for purchase at competitive prices.

“‘Car sales’ is one of the most often-searched terms at Avis.com and Budget.com. This is one of the many indications that there is demand in the marketplace for our used vehicles,” said Tom Gartland, president, North America, Avis Budget Group. “We’re proud to launch the Ultimate Test Drive program and provide car buyers access to a wide selection of the many makes and models we offer Avis and Budget renters. Consumers can find value and savings on a high-quality vehicle from the comfort of their home.”

The program is currently available in Arizona, California, Colorado, Florida and Nevada and will be expanding to additional states in the coming months.  Customers can shop online at www.avis.com or www.budget.com and schedule their “ultimate test drive” to enjoy the full experience of driving a vehicle of their choice, ranging from a MINI Cooper to a Jeep Wrangler or a gas/electric hybrid. The ultimate test drives are free-of-charge for two hours or can be as long as three days for a nominal rental fee. If the customer decides to purchase the vehicle, the base rental fee will be refunded after the purchase is completed through AutoNation Direct.

“Vehicle sales have always been an important part of the car rental industry,” said Michael Schmidt, senior vice president of fleet services, Avis Budget Group. “Until now, our vehicle resale program has been largely a wholesale operation, but AutoNation Direct will allow us to make vehicles available for resale, direct to consumers in a cost-effective and convenient way.”

The Ultimate Test Drive program features more than 75 makes and models. Customers can choose from domestic and foreign manufacturers ranging from Ford and General Motors to BMW, Nissan and Toyota. AutoNation Direct representatives are also available to answer questions about financing, trade-in options, available warranties and related services prior to completing the transaction at a location that is convenient for the customer.

“Consumers looking for value and price will find this program is perfect for them,” said Ron Frey, President of AutoNation Direct. “Working with Avis Budget Group, we can provide consumers with a quality used car that best meets their needs.”

For more information on purchasing a vehicle or to make a car rental reservation, visit www.avis.com or www.budget.com.

About Avis Budget Group

Avis Budget Group, Inc. is a leading global provider of vehicle rental services through its Avis and Budget brands, with 10,000 rental locations in approximately 175 countries around the world. Avis Budget Group operates most of its car rental offices in North America, Europe and Australia directly, and operates primarily through licensees in other parts of the world. Avis Budget Group has approximately 29,000 employees and is headquartered in Parsippany, N.J. For more information, visit www.avisbudgetgroup.com.

The Avis Budget Group, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8891

About AutoNation Direct

Formed in 2007, AutoNationDirect is an alternative sales channel that enables AutoNation to serve the unique needs of Affinity Groups, Credit Unions and other specialty organizations by providing a customer sales experience outside the traditional dealership. AutoNation Direct is a subsidiary of AutoNation, Inc. (NYSE:AN), headquartered in Fort Lauderdale.

Forward-Looking Statements

Certain statements in this press release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans,” “may increase,” “may fluctuate,” “will,” “should,” “would,” “may” and “could” are generally forward-looking in nature and not historical facts. All information in this release related to the Ultimate Test Drive are forward-looking statements.

The forward-looking events discussed in this press release may not occur. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date stated, or if no date is stated, as of the date of this press release. Important assumptions and other important factors that could cause actual results to differ materially from those in the forward-looking statements are specified in Avis Budget Group’s Annual Report on Form 10-K for the year ended December 31, 2011, and in future filings with the SEC, including under headings such as “Forward-Looking Statements,” “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations.”  The Company undertakes no obligation to release publicly any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events unless required by law.