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Zipcar controls about 75 percent of the $400 million car-sharing industry in the United States. Higher demand for car sharing in the face of rising gasoline prices has also attracted traditional car rental companies such as Hertz and Enterprise. The deal will position Avis as the market leader in car-sharing services in the United States, he added. Zipcar, founded more than 10 years ago, pioneered car-sharing services in the United States.

The deal, expected to close in the spring of 2013, will add to Avis's earnings, excluding items, from the second year and is expected to generate between $50 million and $70 million in annual synergies.
The company said it expects to fund the transaction primarily with available cash and additional debt. Zipcar has more than 760,000 members, or Zipsters, with a presence in 20 cities in the United States, Canada and Europe. Media That Matters - From the serious to the hilarious, we share stories that rise to the top. Once approved, you’ll get a magical Zipcard that unlocks thousands of cars across the globe. From monthly to annual, pay-as-you-go to discounted prepaid plans, we have something for every driver.

The total market is projected to reach $10 billion over the next several years, Nelson said on a conference call with analysts. Car sharing allows customers to rent cars at an hourly or daily rate and park in convenient reserved spots.
From Brooklyn to the Bronx, Morningside Heights to Midtown, or Forest Hills to the Financial District.

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