Detroit Bureau on Twitter

Posts Tagged ‘avis car sharing’

Avis Buys Zipcar for Nearly $500 Mil

Further evidence of car-sharing boom.

by on Jan.02, 2013

Ford Chairman Bill Ford and Zipcar Chairman Scott Griffith with a Zipcar Ford Focus.

The car-share business has just gotten a big vote of confidence from rent-a-car giant Avis, which is buying Zipcar for $491.2 million.

The move is the biggest deal yet in the nascent market for alternatives to traditional automotive rental systems where users might seek a set of wheels for trip of as little as an hour. Founded in 2000, Zipcar is generally seen as the leader in the car-share market and now claims 760,000 members.

News You Can Share!

“By combining with Zipcar, we will significantly increase our growth potential, both in the United States and internationally, and will position our company to better serve a greater variety of consumer and commercial transportation needs,” Avis Chairman and CEO Ronald Nelson said in a statement accompany the Wednesday morning announcement.

(more…)