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Share Name | Share Symbol | Market | Type |
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Avis Budget Group Inc | NASDAQ:CAR | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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1.83 | 1.61% | 115.60 | 115.00 | 133.00 | 118.20 | 111.88 | 116.43 | 1,058,913 | 05:00:13 |
An overwhelming 4 out of 5 American city residents say it’s now essential to have access to a car, with 41% having either purchased a vehicle in the last six months or considering it in part due to the pandemic.1 These newly released findings are from a nationally representative survey of urban dwellers from Zipcar and independent research firm Engine Insights. If nearly half of the driving-aged population in U.S. cities purchases a vehicle, the environmental impact will be catastrophic: that would be nearly 136 million new vehicles on our city streets.2 Furthermore, a societal emphasis on car ownership ultimately creates more inequities within our communities.
“As we are navigating the pandemic alongside our neighbors, city leaders and policy makers, it’s become clear that we must continue to address the mobility challenges facing cities and their residents, to ensure that the progress inspired by Zipcar over the past 20 years is continued,” said Tracey Zhen, Zipcar president. “Building a city of tomorrow around equitable access to transportation, instead of a reliance on individual car ownership, is critical. This particularly rings true amidst the economic climate our nation faces, with over 13.6 million Americans struggling to find work.3 Owning a car should not be a prerequisite for having access to work, nor should access to a car be cost prohibitive.”
The impacts of car sharing on the environment and our communities is also clear. As shared in the latest Zipcar Impact Report, personally owned cars sit idle on city streets and in parking garages 95% of the time,4 taking up valuable land that could be used for green space, public parks and more. Thirteen personally owned cars are taken off the road for each Zipcar.5 In New York City alone, 85% of Zipcar members do not own or lease a car after joining Zipcar.6 In the city, one shared car serves up to 80 members – proof that car ownership is not required to access one.6
“Our vision is a future where the number of people who share a car outnumber the people who personally own one. Car sharing is proven to enable affordable access, maximize the use of shared space for all, and make streets safer, less crowded, and less polluted,” said Zhen.
The report explores several areas of social and environmental impact that car sharing has had to-date on cities and urban dwellers, including:
Car Sharing Encourages a Multi-Modal Lifestyle
Car Sharing Increases Access Without the Cost, Hassle of Car Ownership
Car Sharing Provides a Socially Responsible, Sustainable Mobility Solution
Despite the pandemic, requests for new Zipcar memberships have risen consistently week over week. A recent internal survey of Zipcar members showed that after biking and walking, members considered Zipcar to be the transportation option they were most comfortable using. For the safety of the community and employees, Zipcar has implemented enhanced cleaning protocols and products and encourages all members to take the right personal steps to ensure they remain safe.
The Zipcar community is made up of more than one million members worldwide, including 4,000 business partners, nearly 30 non-profit partners and 500 university campus communities. Members enjoy all the benefits of having a car without the cost and hassle of owning one.
To download the full Zipcar Impact Report, visit https://www.zipcar.com/impact.
Report MethodologyZipcar-specific data was collected as part of Zipcar’s 2019 North American Transportation Survey, an annual email survey conducted in December 2019 with a sample size of nearly 18,000 respondents across North America. Industry-specific data was made possible by Zipcar’s partners at the Transportation Sustainability Research Center at the University of California and credible industry parties. In addition, the city dweller survey referenced was fielded from August 26-30, 2020, by Engine Insights via an online survey from a nationally representative sample of 610 U.S. adults 18 years of age and older who live in urban communities.
All sources include:
1 Engine Insights Survey of U.S. adults from urban communities, Aug. 26-30, 2020.2 U.S. Census Bureau population numbers, 2019.3 Bureau of Labor Statistics unemployment numbers, 2020.4 Shoup, Donald. The High Cost of Free Parking. Routledge; 1 edition (June 21, 2011).5 Martin, Elliot, Susan Shaheen and Jeffrey Lidicker. “Impact of Carsharing on Household Vehicle Holdings” (March 2010).6 Zipcar’s 2019 North American Transportation Survey (NATS).7 2019 NATS and AAA, Your Driving Costs, How Much Are You Really Paying to Drive?, 2019.8 Martin, Elliot and Susan Shaheen. “Greenhouse Gas Emission Impacts of Car Sharing in North America” (July 2010).9 Martin, Elliot and Susan Shaheen. “Impact of Car sharing on Public Transit and Non-Motorized Travel” (December 2011).
About Zipcar Zipcar is the world’s leading car-sharing network, driven by a mission to enable simple and responsible urban living. With its wide variety of self-service vehicles available by the hour, day or week, Zipcar operates in urban areas and university campuses in nearly 500 cities and towns. Zipcar offers the most comprehensive, most convenient and most flexible car-sharing options available. Zipcar is a subsidiary of Avis Budget Group, Inc. (Nasdaq: CAR), a leading global provider of mobility solutions. More information is available at www.zipcar.com.
Press Inquiries: Abby Campbell acampbell@360pr.plus 857-300-6301 Stephanie Aboulafia pr@zipcar.com
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