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Joseph Ferraro

Chief Executive Officer & President, Avis Budget

Search every verified Joseph Ferraro interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Joseph Ferraro, CEO of Avis Budget Group, discussed the company's response to the COVID-19 pandemic in several mid-2020 appearances. He described implementing enhanced cleaning protocols, including partnerships with Lysol and a medical advisory group led by a Columbia University physician, to sanitize vehicles at multiple touch points. Ferraro stated that the company prioritized employee and customer safety, maintained sufficient liquidity through 2020, and adjusted its fleet size and cost structure in response to reduced travel demand. He noted that demand improved sequentially from April, driven largely by leisure travel and longer rental durations, with average rental length rising from about four days to over eight days. Ferraro also addressed competitive and operational challenges during the period. He acknowledged Hertz's bankruptcy proceedings but said he preferred to focus on Avis's own efficiency and customer service. He reported that the company had been pacing toward a record year before the pandemic, with revenues up 9% in early 2020, but that shelter-in-place orders caused significant deterioration. He expressed pride in the team's ability to react quickly, including workforce reductions, and said the company was prepared to adapt further depending on the recovery in travel demand.

Recent appearances

  • How the coronavirus pandemic has impacted the rental car industry

    August 04, 2020 · 📺 Yahoo Finance

    Joseph Ferraro Avis Budget Group CEO discusses how the company is sanitizing rental cars amid the COVID-19 pandemic. Subscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb About Yahoo Finance: At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life. Connect with Yahoo Finance: Get the latest news: https://yhoo.it/2fGu5Bb Find Yahoo Finance on Facebook: http://bit.ly/2A9u5Zq Follow Yahoo Finance on Twitter: http://bit.ly/2LMgloP Follow Yahoo F…

    Watch on YouTube ↗

  • Avis Budget CEO on the surging demand for rental cars

    July 09, 2020 · 📺 CNBC Television

    Joe Ferraro, Avis Budget Group CEO, joins 'Power Lunch' to discuss the company's transition from pre-coronavirus, the Covid-19 safety protocols the company is taking, and the state of the used and rental car business. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates…

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  • Avis Budget Group's CAR CEO Joe Ferraro on Q1 2020 Results

    May 05, 2020 · 📺 Daily Earnings Calls

    Watch on YouTube ↗

The summary and quote tags on this profile are produced with AI assistance from verified, first-person interview transcripts, then checked by our team to confirm the speaker's identity and the accuracy of every quote. See how we verify →