Chrysler Unit Buys Dollar Rent A Car, World’s 4th Largest

Chrysler Corp. said today it is buying, through a subsidiary, Dollar Rent A Car, the world’s fourth-largest rental car system.

Terms of the agreement were not released. Chrysler said the purchase by its Pentastar Transportation Group Inc. subsidiary is expected to be completed by Aug. 15.

Dollar, based in Los Angeles, rents cars from about 1,000 locations worldwide, with an average rental fleet of 80,000 vehicles, including 51,000 in North America.

Dollar also operates in Latin America, the Caribbean, Australia and New Zealand, and has franchises in Africa and the Middle East.

Chrysler’s Pentastar already owns the Thrifty and Snappy car rental systems.