In the fourth quarter of 2024, Avis Budget Group Inc (CAR) faced significant challenges, culminating in a net loss of $1.96 billion, driven predominantly by a $2.5 billion non-cash impairment charge related to fleet strategy changes. Despite these setbacks, management emphasized an optimistic outlook for 2025, projecting no less than $1 billion in adjusted EBITDA, reflecting a solid strategic pivot towards more cost-effective fleet management. The company reported quarterly revenue of $2.66 billion, down 3.65% year-over-year, with positive traction in fleet utilization rates nearing historical norms, indicating robust leisure travel demand. Management plans to accelerate fleet turnover to normalize costs, improve vehicle utilization, and enhance customer experiences, positioning Avis for better performance in the coming quarters.