Zipcar Launches Pilot for "Zipvan" Cargo Van Service in San Francisco
Service Model Based on Similar Offering from Zipcar's UK Operations
CAMBRIDGE, Mass. and SAN FRANCISCO, Nov. 29, 2011 /PRNewswire/ -- Zipcar, Inc. (Nasdaq: ZIP), the world's leading car sharing network, today announced a pilot in San Francisco that includes full size cargo vans through a new offering called Zipvan. The vans will allow consumers to transport items too bulky for cars or pickup trucks, and give small businesses a new and more affordable option for transporting goods. This pilot program is in response to the performance of the van service currently being offered by Zipcar's UK operations and a Zipcar member survey indicating that nearly 40 percent of members surveyed would be likely to use Zipvan if available.
Beginning today, Ford E-150 cargo vans are available in San Francisco for reservation by Zipcar members for hourly or daily use with rates starting from $14.75 per hour and $99 per day, which include gas, insurance, parking, roadside assistance and up to 180 miles of driving per day. Best of all, access to the vans is self-serve, so members won't experience the hassles of long lines, paperwork and additional charges associated with traditional van rental.
"Based on the success we've seen in London and the enthusiasm from our members expressed through our Zipcar member survey, we're thrilled to launch this pilot in San Francisco," said Scott Griffith, Chairman and CEO of Zipcar. "Whether you're planning a move across town or about to make a new purchase for your apartment or a business with an occasional need for a larger vehicle, transporting large items in the city is a real hassle. Zipvan aims to make it more convenient and more affordable to move 'stuff' around."
Zipcar has seen strong utilization of its cargo van service in London, which has been operating for more than three years as Streetvan (part of Streetcar, a company Zipcar acquired in 2010). During this short-term pilot program in San Francisco, Zipcar will analyze the performance of Zipvan and member feedback on the program. Based on these results, Zipcar may determine to launch the service in select U.S. and Canadian markets during 2012.
By early Jan. 2012, a total of 15 vehicles will be located throughout San Francisco and Oakland. An initial group of six vehicles will be located in pods of two each and placed at three existing Zipcar locations: Market St. at 15th St., 14th St. at Stevenson St. and Fell St. at Divisadero St. Over the next few months, Zipcar will expand by placing nine more vans in additional San Francisco locations and in Oakland on 20th St. at Telegraph Ave. and Harrison St. at 15th St.
The Ford E-150 cargo vans include two up-front seats and over 230 cubic feet of cargo space – enough for a queen-sized mattress – enabling members to pick up furniture purchased from Craigslist or IKEA, transport musical equipment or move apartments. The all-inclusive low hourly rates on Zipvan vehicles can help small businesses and community non-profits reduce their costs of transporting products or delivering them to retail. For more information, visit www.zipvan.com.
Zipcar is the world's leading car sharing network with approximately 650,000 members and 9,500 vehicles in urban areas and college campuses throughout the United States, Canada and the United Kingdom. Zipcar offers more than 30 makes and models of self-service vehicles by the hour or day to residents and businesses looking for an alternative to the high costs and hassles of owning a car. More information is available at www.zipcar.com.
Photos and b-roll footage are available for media purposes at www.zipcar.mediaroom.com.
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors, including statements with respect to the potential success of the Zipvan pilot offering and the potential launch the offering in other markets . Among the factors that could cause our actual results to differ materially from those indicated by such forward-looking statements include our ability to attract new members and retain existing customers, adverse economic conditions in general and adverse economic conditions specifically affecting the markets in which we operates, and our ability to maintain high levels of member satisfaction and loyalty with respect to this new offering and otherwise and other risks detailed in our filings with the Securities and Exchange Commission, which are available at www.sec.gov. All forward-looking statements reflect our expectations only as of the date of this release and should not be relied upon as reflecting our views, expectations or beliefs at any date subsequent to the date of this release.
SOURCE Zipcar, Inc.
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