This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Zipcar Completes Integration Of Spain's Largest Car Sharing Service

Stocks in this article: ZIP









CAMBRIDGE, Mass., Oct. 17, 2012 /PRNewswire/ -- Zipcar, Inc. (Nasdaq: ZIP), the world's leading car sharing network, today announced the final integration of Spain's largest car sharing service, Barcelona-based Avancar. The integration widens Zipcar's global network and membership base, giving members access to even more vehicles around the world. The service will operate as "Avancar, a Zipcar company" and is a key step in Zipcar's expansion in Europe, which also includes services in the United Kingdom and Austria.

(Photo: http://photos.prnewswire.com/prnh/20121017/NE94309 )

This integration coincides with the launch of Zipcar's new global technology platform, designed to support multi-language capabilities and enhance scalability to improve speed to market with future international expansion. 

The Avancar integration included conversion of the entire fleet in Barcelona from the legacy Avancar platform onto the Zipcar network. Zipcar accounts were established for all consumer and business Avancar members and the end-to-end Zipcar experience is now offered in both Catalan and Spanish languages.  Vehicles in Barcelona are now available for reservation by all Zipcar members, with rates starting from four Euros per hour and 45 Euros per day, including insurance, gas, and 20 kilometers of driving per day (24 hours).

"With the launch of our new global information technology platform and the completion of Avancar's integration, the Zipcar global network is now more scalable and has an even wider reach," said Scott Griffith, Zipcar chairman and CEO. "With a common platform across the US, Canada, UK and now Spain, Zipcar is an attractive option for consumers, businesses and governments looking for ways to reduce costs without sacrificing vehicle accessibility. The completion of this integration, coupled with our recent acquisition of CarSharing.at in Vienna, Austria, positions us well to continue to grow and expand the car sharing category and Zipcar's presence throughout Europe."

Using Zipcar's technology, reserving and driving in Barcelona is easy and convenient. In minutes, members can reserve a car online or by phone, 24 hours a day, seven days a week. As part of the integration, Barcelona members with smartphones, including iPhones and Android devices, will be able to download the Zipcar mobile applications in both Catalan and Spanish, to make reservations, lock and unlock the vehicles as well as honk the horn to help locate the vehicle.

Zipcar purchased a majority ownership interest in Barcelona-based Catalunya Carsharing S.A., known as Avancar, in February 2012, following an initial equity investment in December 2009. Avancar was the first car sharing operator in Spain, and has been offering car sharing in Barcelona since 2005.  According to Zipcar research, Barcelona has the potential to become one of the top European cities for car sharing.



1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,827.75 +12.81 0.07%
S&P 500 2,072.83 +5.80 0.28%
NASDAQ 4,787.3170 +29.0650 0.61%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs