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Localiza Rent a Car offers discount car rental in over 300 locations throughout nine countries in Latin America: Brasil, Argentina, Colombia, Chile, Uruguay, Peru, Paraguay, Bolivia and Ecuador.
Localiza Rent a Car started operations in 1973 pioneering the concept of Unlimited Free Milage in Latin America, with a small branch in the city of Belo Horizonte, State of Minas Gerais. We began our business with six used and financed Volkswagen Beetles.
By the end of the 1970s, we had begun our expansion, opening our first branch in the city of Vitória, in the State of Espírito Santo. After that, we opened branches in the cities of Rio de Janeiro, Salvador, São Luiz and Fortaleza. In contrast to our competitors, who chose to concentrate their activities in the southern and southeastern regions in Brazil, we initially decided to expand throughout the northeast region of Brazil and, in less than three years, we were present in the majority of capital cities in the northeast. In 1981, we believe that we became the leaders in the car rental market in Brazil, based on number of branches.
We currently have the largest car rental network in Brazil by number of branches. At December 31, 2005, our network comprised 310 car rental branches, 117 of which we own directly and 137 of which are franchised in Brazil, in 181 cities around the country. 56 branches are franchised abroad in 36 cities in nine other countries in Latin America.
We operate in the car rental and fleet rental business and in the management and franchising of those businesses. Those businesses complement each other and we benefit from significant synergies between them.
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