Summary
ZipCar, a car-sharing company, will stop its UK operations by the end of 2024. The company plans to pause new bookings after December 31 and is consulting with its UK staff about the decision. ZipCar has around 650,000 users in the UK and cites financial losses as a reason for its withdrawal.
Key Facts
- ZipCar is ending its operations in the UK by the end of 2024.
- The company will pause new bookings after December 31, 2024.
- There is a consultation process with ZipCar’s 71 UK staff members about this decision.
- ZipCar has approximately 650,000 members in the UK, mainly in London.
- Users rent cars through an app and pick them up from designated parking spots.
- ZipCar reported a decrease in revenue from £53 million to £47 million in 2024.
- The company experienced a financial loss of £11.6 million after tax.
- ZipCar attributes financial difficulties to the "cost of living crisis" in the UK.
