This post originally appeared on TheCityFix.com.
Zipcar’s $500 million acquisition by Avis-Budget Group announced last Wednesday is a watershed moment for the car-sharing industry. What will it mean for car sharing?
Barely 10 years ago, no one knew whether car sharing could even work in North America, let alone become a staple of trendy and pragmatic urban living. Yet today Zipcar, plus dozens of innovative start-ups like City CarShare, PhillyCarShare, I-Go, and CommunAuto, have grown into robust community assets in every major U.S. and Canadian city.
Car sharing has made an indelible mark on how we live in cities. Membership exceeds one in five adults in many urban neighborhoods from Montreal to San Francisco. Each shared vehicle in North America has been shown to replace nine to 13 personal cars, and reduce driving by an average of 44 percent – as members pocket the savings and choose to walk, bike, and take public transit.
Zipcar has been at the forefront of this transformation. Launching in Cambridge, Mass., with a handful of lime-green Volkswagen Beetles, the feisty start-up pioneered early innovation, catalyzed massive scale-up around the world, and helped inspire a whole movement toward shared access to everything from houses to bicycles to parking spaces—and even pets.