Zipcar hire car company speeding ahead

The car sharing/car rental company Zipcar, are doing remarkably well this year despite the worldwide recession. Their predicted revenue for this year is in the $130 million bracket across its 13 locations worldwide.

They are planning to open up at least two more sites next year in London and in Vancouver, Canada in what they see as the future of car rental. They say that the business could easily become a ‘$12.5 billion car rental by the hour’ industry and are predicting a rise of between 15 and 25 per cent in business in the next five years as people turn to more economic ways of car hire.

Zipcar has more than 300,000 members and they are not the only company that has dipped into the car share/hourly car rental business. Many other companies from across the world are starting to see the benefits and demand for cheaper more environmentally sustainable car rental options.

Car sharing schemes like this have become increasingly easy to use. You have to be a member first, which can cost up to $50 per year. You have a special swipe card, which has all your details on and can unlock the car and even start the engine. You are then charged by the hour automatically between $5 and $20 depending on the car and company being used. Insurance and fuel is all included in the hourly rate but there is a limit on mileage you can do in one day.