Car sharing programs during 2014 were offered on five continents, in more than 30 countries, and in hundreds of cities, and is expected to experience continued growth in its current markets as well as expansion into new markets. According to a new report from Navigant Research, global car sharing services revenue will grow from $1.1 billion in 2015 to $6.5 billion in 2024.
“Total global membership in car sharing programs is expected to reach 23.4 million by 2024,” says Lisa Jerram, principal research analyst with Navigant Research. “Much of the industry’s growth will be in the Asia Pacific region, which is still in an earlier stage of the car sharing market than Europe and North America, which are both expected to continue to see growth in demand for car sharing services.”
She adds that although the car sharing service model has been well established during the past 15 years, recent innovations continue to expand the market. The success of one-way car sharing services is prompting more companies to offer the model, which allows for increased utilization for members in need of shorter, spontaneous trips, while the adoption of plug-in electric vehicles (PEVs) in car sharing services is expected to increase as automakers promote the technology.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
