Enterprise Holdings today announced that its regional subsidiary, the Enterprise Rent-A-Car Canada Company,is purchasing AutoShare CarSharing Network Inc. In 1998, AutoShare was established as Toronto’s first car-sharing organisation, and today serves more than 12,000 local members.
Enterprise Holdings, through its regional subsidiaries, operates the flagship Enterprise Rent-A-Car brand as well as the National Car Rental and Alamo Rent A Car brands. The company, the most comprehensive service provider in the car rental industry, also offers Enterprise CarShare – with a suite of products and policies specifically geared to the car-sharing customer experience – and Enterprise Rideshare, a leading carpooling and vanpooling program for commuters. It likewise operates Zimride by Enterprise, an online ride-matching program that connects hundreds of thousands of drivers and passengers, while partnering with colleges and universities to facilitate transportation-management solutions.
“This acquisition reflects our longtime commitment to offering sustainable transportation options throughout North America,” said Ryan Johnson, assistant vice president overseeing Enterprise’s CarShare, Rideshare and Zimride operations. “We are very excited and proud to become part of Toronto’s car-sharing community, which AutoShare launched and has supported for more than 15 years.”
The acquisition closes today; financial terms of the transaction will not be disclosed. AutoShare will continue to operate under its current brand indefinitely, and will be owned by Enterprise Rent-A-Car Canada Company and managed by its local Toronto division. All staff members will remain as AutoShare employees, with their benefits updated to match those currently offered to local Enterprise employees.
AutoShare will be served by Enterprise CarShare, which is a natural extension of the Enterprise Rent-A-Car network. Enterprise already operates 542 car rental branch offices in Canada, with more than 130 offices in the Greater Toronto Area alone. As a result, Enterprise is ideally positioned to run a successful, sustainable car-sharing program in a competitive marketplace like Toronto, with a lower member-to-car ratio, a fuel-efficient fleet and a commitment to deliver well-maintained, clean and up-to-date vehicles.
Today, Enterprise CarShare is available on more than 75 university campuses, 40 government and business campuses, and in nearly 20 major markets including New York, Boston, Washington, D.C., Philadelphia and Chicago. Enterprise CarShare offers hybrid, plug-in and fuel-efficient vehicles, delivering car-sharing technology’s speed and economy to businesses, universities and government offices looking to enhance their fleet management operations along with their fiscal and social sustainability initiatives.