Transportation
Avis Budget Group reported that rental car demand was up for the last three months of 2010, though pricing declined year over year
. Domestic pricing was down 3 percent for the quarter, but a 7 percent increase in volume helped lift revenues by 4 percent year over year. For the company's international rental car business, average daily rate declined 2 percent, but rental days were up 7 percent. Even with a $24 million quarterly loss, Avis Budget reported a full-year profit of $54 million. The company lost $49 million in the fourth quarter of 2009 and $47 million for the full year. Avis Budget continues to await antitrust clearance for its proposed Dollar Thrifty acquisition and claimed $15 million in expenses for the quarter related to the transaction.