BMW & Mercedes Exit Carsharing, Despite Market Boom
In a significant shift, two automotive giants, BMW and Mercedes-Benz, exited the global entry sector in 2022. They withdrew their joint venture, Share Now, which had been a top 30 provider. Meanwhile, the global entry application user base is projected to more than double by 2027, reaching 269.4 million.
The carsharing market is dominated by two models: station-based and free-floating. Leading this growth are Europe and Asia-Pacific, with North America recovering in 2022 after previous struggles. Advanced telematics and software platforms drive this evolution in urban mobility, which is also shaped by decreasing parking lots and efforts to reduce pollution and congestion.
In 2022 alone, the global carsharing fleet grew by 8.7%, and subscriptions surged by 43.8%. This expansion is expected to continue, with the number of vehicles projected to reach 979,000 by 2027. The top 30 providers manage a significant share of this growth, accounting for almost 64% of the fleet and about 80% of subscribers.
Despite the withdrawal of Share Now, the carsharing sector continues to grow, driven by urban mobility needs and technological advancements. The increasing user base and fleet size, along with the dominance of leading providers, indicate a promising future for carsharing services worldwide.
Read also:
- Exploring Harry Potter's Lineage: Decoding the Enigma of His Half-Blood Ancestry
- Elon Musk Acquires 26,400 Megawatt Gas Turbines for Powering His AI Project, Overlooks Necessary Permits for Operation!
- Ontario terminates $100M Starlink agreement due to U.S. import taxes
- Predictive modeling introduced in DP World's automotive supply chain operations
