Car rental/sharing company Zipcar has performed well this year in spite of the worldwide recession.

Zipcar has forecasted a windfall this year, predicting revenue of around $130 million across its 13 worldwide locations.

The company is planning to open up two more outlets in London next year, as well as in Vancouver, and predicts to be the ‘future of car rentals’.

Zipcar says that the business could become a ‘$12.5 billion car rental by the hour’ industry and predict a rise of between 15 and 25 percent business in the next five years as consumer trends lean towards better value car hire.

The company boasts more than 300,000 members, and is not the only company to have introduced car sharing and rental by the hour, with many other companies begin to see the benefits and the demand for cheaper and more environmentally friendly options.

Car sharing initiatives are easy to use, by initially becoming a member at a cost of $50 per year.  Once a member, a swipe card is issued that can be used to open the car or start the engine, and an hourly charge of $5 to $20 is charged depending on the car and company used.  Insurance is included, but there is a limit on mileage.

Thanks to www.forbes.com for the above information, for more details on this article please visit their website.