Budget Group, Inc. acquires Ryder TRS, Inc. and combines it with Budget Truck Rental to form the Budget Truck Group in June.
Budget Truck Rental’s first 700 newly-designed, blue trucks are released from the manufacturing plant on October 15.
Ryder TRS, Inc. is officially integrated with Budget Truck Rental, under one brand name, during first quarter.
Budget Truck Rental begins to retire the Ryder TRS, Inc. bright-yellow-trademarked trucks from the fleet, and replaces with new, blue Budget trucks.
From coast to coast, Ryder TRS, Inc. signs are replaced with new Budget signs.
Budget enters into a definitive agreement to sell substantially all of its car and truck operations to Cendant Corporation’s subsidiary Cherokee Acquisition Corp. on August 22. The sale to Cendant Corporation is completed on November 22.
20,000 Ryder TRS, Inc. trucks are redesigned and reintroduced to the rental fleet with new Budget logos.
Budget Truck Rental has approximately 28,000 trucks and over 2,400 convenient U.S. locations by the end of 2003.