Hertz to enter car-sharing businessEnlarge Photo
The rental car company, famous for its high-performance offerings, including several special-edition vehicles such as the Shelby GT-H Mustang (pictured) and the Corvette ZHZ, will be launching the car-sharing service in a handful of U.S. and European cities through the end of this year, expanding the network in 2009 and afterward, reports BusinessCar. The self-service fleets are being pitched with heavy emphasis on the environmentally-friendly aspects of car-sharing, though quantification of the benefits is not yet forthcoming.
Exact locations of the upcoming program are likewise unannounced. The decision to offer a car-sharing program is the first among the major car rental firms, though rival Avis previously ran a similar concept it called Urbigo, canceled two years ago for lack of interest.
The most common model for such clubs is use-based payment, with hourly rates for each trip. For urban residents, who tend to use their cars less than suburban dwellers, the costs can be substantially less than owning a parking space, paying upkeep and registration and all the miscellaneous costs of car ownership.