Avis Budget Group, Inc.’s CAR wholly-owned subsidiary, Zipcar took another step forward on its expansion path, with the announcement of a deal to extend its "wheels when you want them" membership service to Wilmington, DE.
This partnership with Wilmington is likely to help Zipcar cater to residents, students, visitors and businesses in the city by providing them with a convenient option for commuting at reasonable rates. The company now has eight vehicles available for reservation, along with six conveniently located parking spots in the city.
Further, the company offers a wide range of vehicles, including cars manufactured by Nissan and Volkswagen among others, which can be easily booked online via mobile apps or through a phone call.
Though Wilmington residents were already using Zipcar’s car-sharing services, its official launch in the city will enhance members’ convenience. It will be particularly helpful for students of the University of Delaware and residents who make frequent trips to nearby cities like Philadelphia.
Additionally, Zipcar will aid local businesses of the city by extending its Zipcar for Business (Z4B) program to the residents. This program offers services at discounted prices on weekdays, enabling users to cut costs and eliminate parking needs, while meeting environmental standards at the same time.
Zipcar currently operates in 7 nations, including Austria, Canada, France, Spain, Turkey, the United Kingdom and the United States, across 470 towns and cities, 400 universities and more than 50 airports worldwide.
Zipcar operates a car-sharing network and provides self-service vehicles to members in and around their residences and workplaces. It was acquired by Avis Budget in Jan 2013 for a total value of $500 million. Following the acquisition, Avis Budget has been aggressively expanding Zipcar’s services at various locations, as part of its strategy to invest in growing markets where car rental demand is on the rise.
Avis Budget currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the business services industry include comScore, Inc. SCOR, Rentrak Corporation RENT and PFSweb Inc. PFSW, each with a Zacks Rank #1 (Strong Buy).
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