Carsharing To Largely Remain An Urban Trend In North America, Finds Frost & Sullivan
MOUNTAIN VIEW, Calif., Jan. 10, 2013 /PRNewswire/ -- By 2020, the United States is expected to account for 83.3 percent of the traditional carsharing membership base in North America, compared to 87.1 percent in 2011. Canada's share will also increase due to enhanced integration with third-party mobility solution providers, as well as partnerships with cooperatives, facilitating seamless carsharing among neighborhood communities.
New analysis from Frost & Sullivan ( http://www.automotive.frost.com), Business Models and Opportunities in the North American Traditional and Peer-to-Peer Carsharing Market, finds that by 2020, the total carsharing number of members, for both traditional and peer-to-peer (P2P), in North America is expected to reach 9.0 million; which translates to about 0.26 million vehicles in carsharing fleet.
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Original equipment manufacturers (OEMs) are entering the carsharing market through either launch-and-expansion of independent operations or partnerships with established participants. Similarly, car rental companies are looking for inorganic growth in carsharing for the short- to medium-term."The carsharing business is not profitable until it reaches critical mass," said Frost & Sullivan Senior Research Analyst Ratika Garg. "It is therefore vital to obtain external funding from investors or governments for new programs to take off." Further, due to the existence of a well-developed public transit system, carsharing still remains an urban phenomenon. Participants need to strategize for these factors and develop strong partnership strategies that enable easy access to other mobility solutions to be successful. The 0.16 million vehicles in the traditional carsharing fleet will boost business for OEMs, as revenues are generated either directly through their inclusion in carsharing fleet or by providing early exposure to potential buyers. Also, one-way members and corporate customers will emerge as attractive end-user segments.
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