Car sharing members estimated to exceed 12 million members by 2020

Article by Anita Panait, on September 18, 2013

Car sharing services are expected to have over 12 million members globally by 2020, according to a report by Navigant Research. Car sharing services – which only have around 2.3 million members this year – are becoming increasingly popular among younger drivers, thanks to their cheap and easy access to vehicles. As of July 2013, ZipCar Inc. has over 810,000 members and more than 10,000 vehicles in the United States, Canada, the United Kingdom and Spain.According to Navigant Research, global car sharing revenues are expected to reach around $1 billion in 2013, and around $6.2 billion by 2020. 

Lisa Jerram, senior research analyst with Navigant Research, said in a statement that car sharing offers members the “ability to enjoy mobility without the expense and hassle of owning a car, or the need to frequently rent a vehicle from a traditional car rental agency." She added that both public and private entities view car sharing as “a powerful tool” in reducing urban congestion and lowering emissions of greenhouse gases. [source: Autoblog]

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