A PYMNTS Company

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

By  |  January 4, 2013
U.S.: Avis expands enterprise with $491.2M entry into car sharing

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.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

     

    Full Content: Associated Press

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.