The around 6 million subscribers to GM’s OnStar connected car service can now rent out their cars to other drivers via a deal between the auto giant and peer-to-peer car sharing startup RelayRides. The partnership was announced back in October of last year.
There’s definitely a generational shift going on as young folks care about fuel efficiency and environmental impacts, which makes them question the absolute need to own a car in the first place.
Good, but not great, growth has Wall Street punishing car sharing market leader Zipcar, which IPO’ed at $18 last year, zoomed to $28 and now sits at around ten bucks. But the question on many people’s minds is: What is Hertz doing?
Car sharing company Zipcar says it plans to offer cargo vans — Zipvan — in a pilot project in San Francisco in response to customers showing an interest in renting large Zipcars by the hour for moving stuff around cities.
Our GigaOM Pro Green IT analyst Adam Lesser reports: Zipcar reported its third quarter after the bell yesterday and finds itself getting hammered this morning, down 5 percent. Sadly, the street is missing the story. Zipcar is finally profitable. Period.
After the great market sell-off yesterday, stocks are rebounding slightly on Tuesday, including many of the greentech stocks that took a beating yesterday. But most of them are only up slightly. Here’s the latest:
Tech stocks took a beating on Monday morning, the first day of trading after Standard & Poor downgraded the credit ratings of credit agencies. At the same time, greentech stocks — from solar to biofuels to smart grid — fell alongside the weak macro economic news.
While using the web to share “stuff” is still a relatively new concept, the business model is being adopted by a growing number of companies, and I think it has started to reach a tipping point and become more mainstream.
Zipcar’s stock is still flying high after the car sharing company debuted on the Nasdaq last month. To the CEO of neighbor-to-neighbor car sharing startup RelayRides, Shelby Clark, Zipcar’s IPO has shown investors that there’s real money to be made in car sharing.
While car sharing company Zipcar had a smash hit debut on the Nasdaq last month, how big of a market car sharing will become is still unclear — particularly to rental giant Enterprise.