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U.S.: Avis expands enterprise with $491.2M entry into car sharing

By  |  January 4, 2013

Avis has reportedly stepped into the car sharing business with its bid to buy Zipcar for $491.2 million. Car sharing, a quickly growing market that allows consumers to rent cars for short trips and short time periods, will become a new alternative to Zipcar’s car rental service. According to reports, Zipcar has tripled its membership since 2008; Avis is the third-largest car rental company in the nation, competing with Enterprise Rent-a-Car and Hertz Global Holdings Inc. Avis Chairman and CEO Ron Nelson says that while he was “dismissive” of the car sharing business in the past, he has realized the market as an opportunity for growth.

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    Full Content: Associated Press

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