In this free e-book we discuss the main benefits and challenges of two most common car sharing operational models – free-floating car sharing and station-based. While the two models share a lot of similarities, and most modern software allow you to have mixed operational fleets, we look at 6 key factors that you must consider before selecting one of these models or mixing the two. We look at differences related to fleet management, team and startup costs, parking, utilization rates and other essentials to your car sharing business model.
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Businesses, whether they are in the mobility industry or tourism, are constantly looking for new sources of revenue. If you own a car fleet, you can increase its utilization rate and create an additional revenue source for your business by adding car-sharing service. The operational and business changes required will be mitigated by the software, as most advanced business software enables you to manage car sharing and car rental models, and the mix between the two, under one hood.
Car sharing companies come in many shapes and sizes and spring up in various locations around the world. While the US, the EU, and China markets get the most media attention due to their size, South America, South Asia, and the Middle East are the fastest growing markets. While on more traditional markets, automotive and OEM companies, like BMW and Daimler dominate car sharing services, South America has a lot of fast-growing car sharing companies that have built their success on smart utilization of technology and data. MyKeego is one of the first Argentinian car sharing companies and it is also one of the fastest growing.
Adoption of electric vehicles has skyrocketed in recent years. Car sharing businesses remain the prime drivers of this adoption, as customers demand more environmental friendly transportation modes, and EVs offer lower operational costs to business. Car sharing companies have been able to properly mitigate all issues associated with EVs, including their high unit price, charging infrastructure and range anxiety. Today having electric vehicles in a shared fleet is a customer expectation that is hard to bypass.
Mobility-as-a-Service has moved from a concept for the future of urban transportation to reality in some of the big cities of the world. There are numerous projections about Mobility-as-a-Service market. For example, Accenture research shows that by 2030, revenues from manufacturing and selling vehicles (around €2 trillion) will be only marginally higher than they are today, and that profits from car sales will decrease (from around €126 billion to €122 billion). By contrast, revenues from mobility services are predicted to reach almost €1.2 trillion—with profits reaching €220 billion. Whatever its form might be, there is no doubt in minds or strategies of the biggest automotive and transportation companies that demand-responsive and integrated transportation services are what users demand today. It is essential to survival and prosperity of all mobility providers, whether they might be car sharing or car rental businesses to adopt this trend and tailor their service to be used as MaaS.