Wednesday, 24 July 2013

American Car Sharing market vs Australian Car Sharing market, oh and Digital Keys!

Last weekend I pitched a Peer-to-Peer(P2P) car sharing concept at a Start Up Weekend in Australia(Gold Coast) called Ozcarsharing.

Wait, what is P2P Car Sharing, and what has it got to do with Digital Keys?

If you have never heard of P2P Car Sharing before, you can read more about it here.

In one sentence P2P car sharing is a global phenomenon where people can rent out their own cars to anyone, and rent anyone else's cars for a minimum of one hour at a time.

New technologies are enabling P2P car sharing companies to pop up everywhere across the globe. Tech such as online booking engines, smartphones, online payments and Digital Keys make it all possible. With Digital Keys you don’t need to go into a car rental office to pick up the keys for a car, and drop them back again, and so cars can be available for rent from anywhere 24/7.

So how did Ozcarsharing go on Start Up weekend?

Wait, what is Start up weekend?

If you have never heard of Start Up weekends before, then you can read more about it here.

In one sentence, Start Up weekend is a global phenomenon where anyone can pitch a tech business concept, and then work with team members over the weekend to build and validate the concept, and pitch it at the end of the weekend to judges for prizes. There is alot more to it which you can read at the website link(such as learning, networking etc), but that's my brief summary.

There were 32 idea’s pitched on the first night of the Gold Coast start-up weekend, and from a popular vote of 140 people in attendance this was reduced to 9 finalists, who formed teams, and pitched on the Sunday Night.

How did Ozcarsharing go?

To answer that question we’ve carried out an analysis of the current state of the car sharing industry in America and compared it to the current state of the car sharing industry in Australia – see the table below. But first here is an overview.

US Car-Sharing Market (Not including the traditional car rental companies)

  • Total Size of US car sharing market in 2012 1.8 billion. Total size of car rental market in US 30.8 billion, car sharing expected to rise to $3 billion by 2016 reference here  
  • Hertz in USA is currently in the process of coverting all 325,000 of its fleet to Digital Key/carsharing unlocking systems. 
  • In 2012 - 26 car sharing companies in US claiming around 806,000 members sharing 12,600 vehicles reference here  
  • 25,000 people per share car 
  • One in 388 people in US are carsharing members and use share cars

Car Sharing company
Capital raised
Sale in Jan 13 for $500 Million
700,000 members 9000 cars

$13 Million 2012 (including Google investment)
Not listed
$13 Million in 2012
Sold to Relayrides for undisclosed sum - see above
$13.9 million in 2012 (including CEO of Yahoo lead investor)
Approx 10,000 members
$16.5 million ($5 Million in July 2013 $11.5 million earlier round)

Flight Car
$6 million (Investor includes CEO of Airbnb)
1400 cars

$60 million (Investor includes Andreessen Horowitz Netscape founder)

Recent capital raise stirring Silicon Valley
$50 million (July $37 million)

See Crunchbase profile here
City Carshare
$1.7 million (State Government grant)

Mint CarSharing

8,000 members
Sold in May 2012 for undisclosed amount
IGO Car sharing
$700,000 Federal Government Grant
15,000 members, 250 cars.

Australian Car Sharing (not including traditional car rental companies)


  • In 2012, 6 companies claiming approx 30,000 members sharing around 2000 cars - reference
  • 11,500 people per share car
  • One in 766 Australians are car sharing members.

Car Sharing company
Capital raised
120 cars

50 cars
Sold to Greensharecar for undisclosed amount

$20,000 Australian Government Grant
1000 cars 25,000 members
480 cars

40 cars 400 members
Started in April 2013
25 cars 200 members

So the bottom line is, by popular vote, we didn’t make it to the final 9. After seeing these figures above, does that not surprise you? It seems Australians, just aren't ready for carsharing, but the Americans couldn't be more ready!

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