Recession Not Hurting Car Sharing Business. By Ken Belson, NYTimes, October 22, 2009. "Car sharing began in Europe decades ago and caught on in the United States starting about 10 years ago. But in the last year, services have grown steadily despite, or perhaps because of the recession. Zipcar, the industry leader, has had its membership jump 30% and its revenue rise 25% in the last year. The company now has 325,000 members who pay an annual fee of $50 and rent cars for as little as $8 an hour, with gas and insurance included... Zipcar competes against many small car-sharing services in cities like Chicago and San Francisco and, increasingly, with Connect by Hertz and WeCar from Enterprise, in this emerging market, which is expected to grow to two million members by 2013... Surveys show that 20% of drivers who use car-sharing services have given up their first or second vehicle; an additional 40% said they put off buying a vehicle."
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