Leading OEMs are certainly grasping the opportunity. Last year Daimler and BMW announced a mobility joint venture and brought car-sharing players car2go and DriveNow together under a single business called Share Now. Share Now has become the world’s largest car-sharing provider and offers its service to more than 40 million customers in 31 different cities with a fleet of 21,600 vehicles.
Not every car-sharing operation is alike and different models have emerged:
This is still the dominant model with 61% of all operators1 running this model, although other models are catching up fast. One such example is Spanish company Respiro which operates on a pay-as-you-go basis, and was acquired by SEAT last year.
Cars are not at fixed rental stations but available across an entire city. One such provider is Miles Mobility which charges customers by distance rather than time, and earlier this year it raised more than €5m in a funding round. A leading Spanish player is Zity which provides access to a fleet of 500 electric Renault cars across Madrid.
The model whereby owners charge a fee to rent out their vehicles continues to attract attention. For instance, earlier this year saw US player Getaround acquire French company Drivy, giving it a wider presence across Europe. IAC has also invested €221m in Turo, the world’s largest peer-to-peer car-sharing marketplace.
Another player which continues to grow is Dutch platform SnappCar, one of the early pioneers of car-sharing, which is aiming to reach a million users by 2020. Petrol discounter Tango, together with current shareholders, recently invested a further €8m in the business. Last year saw French rental company EuropCar also launch its Drive & Share solution with SnappCar. Under the scheme, customers have access to a long-term car rental which they can share on SnappCar’s platform when they don’t need it.
Hiyacar is a UK-based platform which allows owners to lend their vehicles for days or months at a time, and uses a keyless smartphone app to give drivers access to lent cars. Last year the company raised €5.7m from Japanese conglomerate Itochu. Meanwhile Spanish players in this market include Social Car and Amovens.
Share Now has become the world’s largest car -sharing provider and offers its service to more than 40 million customers.
This model refers to the sharing of car journeys so that more than one person travels in a car. Clever Shuttle offers a service where users in different cities can book a driver via an app to pick them up, and then the company automatically forms carpools between passengers who have a similar destination. The start-up recently used a funding round to develop its technology and expand into other cities across Germany. In 2018 Deutsche Bahn acquired 60% of the business, while more recently Japanese company Mitsui acquired 12% of the business by participating in a capital increase together with Deutsche Bahn.
In the UK, Liftshare.com is an example of a company which offers a corporatecar-share scheme for businesses.