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Daimler AG : car2go Marks 100 Days of Operations in Vancouver with More than 5,000 Members and 40,000 Rentals

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10/06/2011 | 01:10pm EST
  • Innovative carsharing program supports Vancouver’s Greenest City 2020 Goals

VANCOUVER, B.C. – car2go Canada Ltd, a subsidiary of Daimler North America, announced today successful operations for its first 100 days in Vancouver, B.C. Since the launch of car2go in Vancouver on June 18, 2011, car2go edition smart fortwo vehicles have been rented more than 40,000 times, and membership has grown to more than 5,000.

“The residents of Vancouver have high awareness of environmental issues and openness to using alternative modes of transportation, making Vancouver an excellent market for the first Canadian car2go city,” said Nicholas Cole, president and CEO of car2go Canada Ltd. “It is our goal to help the city and its residents make Vancouver a more sustainable city. We thank Vancouver residents for welcoming car2go into their community and daily lives.”

car2go members can easily locate an available car2go on the street within the operating area via the Internet or smartphone application, or by contacting the car2go customer call center. Unlike traditional carsharing, members can begin their trip spontaneously or reserve a vehicle up to 24 hours in advance without committing to a specific return time or location.

car2go launched in Vancouver in June with more than 1,000 rentals per week. Today the average number of car2go rentals per week has increased to more than 4,000. The average rental time is between 30 and 50 minutes, and the average distance driven in a car2go is between 8 and 10 kilometres. This innovative mode of transportation supports the City of Vancouver’s goal of becoming the greenest city by 2020 because it focuses on reducing congestion and emissions, and it complements existing public transportation options.

“We are building a greener transportation network in Vancouver, and in conjunction with transit, cycling and walking, carsharing is an important tool in our work to become the greenest city in the world by 2020,” said Vancouver Mayor Gregor Robertson. “It’s great that car2go chose Vancouver to make its Canadian debut, and I expect we’ll see interest and use of car2go and all forms of carsharing continue to expand in the years to come.”

The fleet of 225 car2go edition smart fortwo vehicles is distributed throughout the City of Vancouver for “free floating” rentals, meaning that members can rent without committing to a specific return time or location. Members can use the cars for as long as they would like and pay only for the time they use the vehicle.The operating area for car2go was expanded in September 2011 and now reaches more than 300,000 residents of Vancouver.

For a limited time, residents who register for car2go will receive 100 free minutes of driving time. A $2 mandatory fee for ICBC is charged annually to each member who registers and is given as a charitable donation to the Canuck Place Children’s Hospice.

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Financials (€)
Sales 2018 166 B
EBIT 2018 12 316 M
Net income 2018 8 394 M
Finance 2018 16 128 M
Yield 2018 7,52%
P/E ratio 2018 5,94
P/E ratio 2019 5,56
EV / Sales 2018 0,20x
EV / Sales 2019 0,20x
Capitalization 49 999 M
Duration : Period :
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Technical analysis trends DAIMLER
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 30
Average target price 64,1 €
Spread / Average Target 37%
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Dieter Zetsche Chairman-Management Board
Manfred Bischoff Chairman-Supervisory Board
Bodo Knut Uebber Chief Financial Officer
Frank Lindenberg Head-Finance & Controlling
Clemens A. H. Boersig Member-Supervisory Board
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