Zipcar Gets Serious About Europe, Appoints New Prez

January 19th, 2012 by Trefis Team
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Zipcar (NYSE:ZIP) is getting very serious in its European foray. After completing the integration of Streetcar car club in London last year and the purchase of a majority ownership interest in Barcelona’s Avancar in December, it has now appointed Ferek-Malte Feller as its first president of Zipcar Europe to implement and oversee the company’s planned growth strategy in Europe. Zipcar competes with traditional car-rental companies like Hertz Global Holdings (NYSE:HTZ), Avis Budget Group (NYSE:CAR) and car sharing services like Connect by Hertz, Enterprise’s WeCar, UHaul’s UCarShare and City Car Share.

See our complete analysis for Zipcar

Zipcar in Europe

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With the integration of Streetcar’s operations in the U.K. and the acquisition of majority stake in Barcelona’s Avancar, Zipcar has prepared a solid base for European expansion.

The average membership of Zipcar Europe increased from 4K in 2008 to 70K in 2010 with Streetcar acquisition. We expect its European membership to grow up to half million over the next decade through a combination of organic growth, acquisitions, joint ventures, franchise opportunities and other relationships. Given that Zipcar plans to undertake 2 to 3 Tier-II market launches per year from 2012, we expect it to foray into new European metropolitan markets over the next few years. Frost & Sullivan research estimates the European car sharing market could surpass 5 million members and 3 billion euros by 2016. We wrote more about it in a recent article.