Avis 2010 Annual Report Download - page 4

Table of Contents
FORWARD-LOOKING STATEMENTS
The forward-looking statements contained herein are subject to known and unknown risks, uncertainties and other factors which may cause our
actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied
by such forward-looking statements. These forward-
looking statements are based on various facts and were derived utilizing numerous important
assumptions and other important factors that could cause actual results to differ materially from those in the forward-looking statements.
Forward-looking statements include the information concerning our future financial performance, business strategy, projected plans and
objectives. Statements preceded by, followed by or that otherwise include the words “believes”, “expects”, “anticipates”, “intends”, “projects”,
“estimates”, “plans”, “may increase”, “may fluctuate” and similar expressions or future or conditional verbs such as “will”, “should”, “would”,
“may” and “could” are generally forward-looking in nature and not historical facts. You should understand that the following important factors
and assumptions could affect our future results and could cause actual results to differ materially from those expressed in such forward-looking
statements:
•
the high level of competition in the vehicle rental industry and the impact such competition may have on pricing and rental volume;
•
an increase in our fleet costs as a result of an increase in the cost of new vehicles and/or a decrease in the price at which we dispose of
used vehicles either in the used vehicle market or under repurchase or guaranteed depreciation programs;
•
the results of operations or financial condition of the manufacturers of our cars, which could impact their ability to perform their
payment obligations under the agreements we have with them, including repurchase and/or guaranteed depreciation arrangements,
and/or their willingness or ability to make cars available to us or the rental car industry as a whole on commercially reasonable terms
or at all;
•
any reduction in travel demand, including any reduction in airline passenger traffic;
• any weakness in economic conditions generally, including in the housing market, particularly during our peak season or in key market
segments;
•
our ability to continue to achieve and maintain cost savings and successfully implement our business strategies;
•
our ability to obtain financing for our operations, including the funding of our vehicle fleet via the asset
-
backed securities and lending
market consistent with current costs, and the financial condition of financial-guaranty firms that have insured a portion of our
outstanding vehicle
-
backed debt;
•
an occurrence or threat of terrorism, pandemic disease, natural disasters or military conflict in the locations in which we operate;
• our dependence on third-party distribution channels, third-party suppliers of other services and co-marketing arrangements with third
parties;
• our ability to utilize derivative instruments, and the impact of derivative instruments we currently utilize, which can be affected by
fluctuations in interest rates and exchange rates, changes in government regulations and other factors;
•
our ability to accurately estimate our future results;
•
a major disruption in our communication networks or information systems;
•
our exposure to uninsured claims in excess of historical levels;