Dollar Thrifty Automotive Group, Inc. was incorporated on November 4, 1997, and completed its initial public offering of Common Stock on December 23, 1997. It is the successor to Pentastar Transportation Group, Inc. which was formed in 1989 to acquire and operate the rental car subsidiaries of Chrysler Corporation, now known as DaimlerChrysler Corporation. Dollar was incorporated in 1965, and Thrifty was incorporated in 1950. Thrifty is an indirect subsidiary of the Company, Thrifty, Inc. which was formed in December 1998. Thrifty, Inc. operates Thrifty and Thrifty Car Sales, Inc., the latter which principally franchises used vehicle sales.
In December 2002, Dollar Thrifty Automotive Group unveiled a new corporate platform transforming the company from a brand structure to a functional structure. Previously functioning as two separate operating companies (Dollar Rent A Car Systems, Inc. and Thrifty, Inc.), Dollar Thrifty Automotive Group began operating as a single company while continuing to support and grow both of its two strong brands independently (Dollar Rent A Car and Thrifty Car Rental). This new business model combined functions such as field operations, technology systems, fleet and administrative management. Seamless to customers, as both the Dollar and Thrifty brands remain separate in the sales, marketing, and franchising areas, this new structure allows DTG to avoid costs as well as realize cost savings and operating efficiencies. Dollar and Thrifty are powerful vehicle rental brands that primarily serve value-conscious travelers. Each operates independently and has its own business approach. Together, Dollar and Thrifty have operations in over 70 countries throughout the world, including approximately 800 corporate and franchised locations in the United States and Canada.