Localiza Rent A Car SA is a car rental company with most of its operations in Brazil. Through its subsidiaries, the company rents cars to individuals, manages corporate car fleets, sells its fleet to the general public and offers a franchise model. Franchisees are responsible for approximately half of Localize's car rentals, while most vehicles accessible with Localize are owned by the company. The fleet rental division has long-term agreements with companies that are renewed every two or three years. The car rental segment provides three-quarters of annual revenue, and fleet rental makes up the rest, with a negligible share of the franchise management division.