Avis 2014 Annual Report Download - page 8

FORWARD-LOOKING STATEMENTS
Certain statements contained in this Annual Report on Form 10-K may be considered “forward-looking
statements” as that term is defined in the Private Securities Litigation Reform Act of 1995. The forward-looking
statements contained herein are subject to known and unknown risks, uncertainties, assumptions and other
factors that may cause our actual results, performance or achievements to be materially different from those
expressed or implied by any such forward-looking statements. Forward-looking statements include information
concerning our future financial performance, business strategy, projected plans and objectives. These statements
may be identified by the fact that they do not relate to historical or current facts and may use words such as
“believes,” “expects,” “anticipates,” “will,” “should,” “could,” “may,” “would,” “intends,” “projects,” “estimates,”
“plans,” and similar words, expressions or phrases. 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;
• a change in travel demand, including changes in airline passenger traffic;
• a change in our fleet costs as a result of a change in the cost of new vehicles, manufacturer recalls,
disruption in the supply of new vehicles, and/or a change 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 our agreements 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 change in economic conditions generally, 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 global operations, including the funding of our vehicle fleet through
the issuance of asset-backed securities and use of the global lending markets;
• an occurrence or threat of terrorism, pandemic disease, natural disasters, military conflict or civil unrest 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 utilize, which can
be affected by fluctuations in interest rates, gasoline prices and exchange rates, changes in government
regulations and other factors;
• our ability to accurately estimate our future results;
• any major disruptions in our communication networks or information systems;
• our exposure to uninsured claims in excess of historical levels;
• risks associated with litigation, governmental or regulatory inquiries, or any failure or inability to comply
with laws, regulations or contractual obligations or any changes in laws, regulations or contractual
obligations, including with respect to personally identifiable information and taxes;
• any impact on us from the actions of our licensees, dealers and independent contractors;