Car Sharing Activities in the UK - Market Research Report

Sales accelerate: Surging fuel costs drive up revenue for car sharing companies

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

Car sharing providers offer a membership-based service that provides people with access to cars at a low cost and on a flexible basis. The rate of memberships of car sharing clubs has doubled over the past decade. The growth of memberships means car sharing companies have boosted investment in vehicles to cope with soaring sales. Local authorities encourage car sharing clubs to reduce the number of cars on the road and some companies operate in partnership with local councils. Revenue is forecast to expand at a compound annual rate of 2.7% over the five years through 2022-23 to £214.1 million, including an expected rise of 3.8% in 2022-23. This industry is composed of establishments that offer membership-based car rental services, typically for shorter time periods and distances than traditional car rental and leasing firms. Although pricing structures may vary, car sharing companies often charge by the mile and by the minute or hour, in addition to a flat fee.