10-12-2017, 12:18 PM
Big news:
Community CarShare has been in a perilous financial situation for a little while now. Basically one that was only feasible in an environment of continued growth.
Apparently they've been in discussions with Communauto of Montreal, who were interested in acquiring CCS as a way of entering the south Ontario market. The values of Communauto align fairly well with CCS, despite being a private company (as opposed to a non-profit co-op).
It's increasingly been a risk that one day one of the big players in Toronto, ZipCar, AutoShare, or Car2Go would decide to expand, and they have large multi-national backing (the former two are owned by rental car companies Budget and Enterprise respectively).
The @CarShareCoop AGM has voted to direct its next board to pursue negotiations for acquisition of its operations by @Communauto / @vrtucar.
— Michael Druker (@m_druker) October 12, 2017
Community CarShare has been in a perilous financial situation for a little while now. Basically one that was only feasible in an environment of continued growth.
Apparently they've been in discussions with Communauto of Montreal, who were interested in acquiring CCS as a way of entering the south Ontario market. The values of Communauto align fairly well with CCS, despite being a private company (as opposed to a non-profit co-op).
It's increasingly been a risk that one day one of the big players in Toronto, ZipCar, AutoShare, or Car2Go would decide to expand, and they have large multi-national backing (the former two are owned by rental car companies Budget and Enterprise respectively).