Zipcar Provides Smart Solution for Today's Graduates on the Move

CAMBRIDGE, Mass., May 26, 2011 /PRNewswire/ -- Those in need of a great gift for the graduate in their life can turn to Zipcar, Inc. (Nasdaq: ZIP), the world's leading car sharing network, to give recent grads the gift of "wheels when they want them."  Zipcar, a more convenient and cost-effective alternative to car ownership, has locations in 14 major metropolitan markets, as well as on 230 college campuses, making membership a great gift option for college graduates moving to a big city, or for high school graduates who will be attending a Zipcar campus in the fall.

"The expenses associated with post-graduation life can be a serious source of stress, but giving grads the 'Gift of Zip' frees them from the high costs and hassles of owning a car in the city, while providing them with the convenience and flexibility of access to cars on demand," said Scott Griffith, Zipcar chairman and CEO.  "Also, many college freshmen aren't allowed to keep cars on campus, not to mention the high cost of car ownership on top of already significant tuition and related expenses, making a Zipcar membership a great gift option for high school grads attending one of the 230 campuses with a Zipcar program this fall."

For members of this year's graduating class who will not have access to a personally-owned vehicle for their next phase of life, parents, friends and family can give the gift of Zip though purchase of a "Zipcertificate," available online at www.zipcar.com/gift.  Zipcertificates start from $25, and can be redeemed for Zipcar membership, as well as an unlimited number of driving credits to put toward vehicle reservations. Every Zipcar membership includes gas and insurance with no extra fees, and hourly rates start from $8.50.  

A 2010 Zipcar-commissioned study found that 45 percent of Millennials, people between the ages 18 to 34, found they had consciously made an effort to reduce how much they drive, and 64 percent said they would drive less if alternative options including public transportation or car sharing were available.  As younger drivers increasingly opt out of car ownership due to the costs associated with gas, insurance, parking and maintenance, Zipcar members report saving an average of $600 per month, or more than $7,200 per year, compared to owning a car. At a time when gas prices are peaking and car ownership in big cities and on college campuses is not always feasible, Zipcar delivers a cost-effective and hassle-free transportation solution.  

With more than 30 vehicle makes and models, Zipcar offers the right ride for every trip and any length of time, day and night, including:

• Getting into that first apartment or dorm room: Trucks and SUVs provide all the extra cargo space needed for moving boxes and furniture or running errands.
• Getting to know a new city or college town: A few hours in one of Zipcar's hybrids is an easy, fast way to familiarize oneself with a new area.
• Getting to job interviews or internships: Graduates can guarantee they arrive on time and even in style by reserving a BMW, Volvo or Audi if they choose.
• Getting out of the city or off campus: There's no better way to celebrate the end of class than through an affordable, accessible summer trip to the ballpark or beach in one of Zipcar's convertibles.

Reservations can be made online or by using Zipcar's iPhone or Android applications on a mobile device, and cars can be reserved for as short as an hour or for up to four days.  For more information, visit www.zipcar.com.

About Zipcar
Zipcar is the world's leading car sharing network with more than 575,000 members and over 8,000 vehicles in urban areas and college campuses throughout the United States, Canada and the United Kingdom. Zipcar offers more than 30 makes and models of self-service vehicles by the hour or day to residents and businesses looking for an alternative to the high costs and hassles of owning a car. More information is available at www.zipcar.com.

Photos and b-roll footage are available for media purposes at www.zipcar.mediaroom.com.

Zipcar and the Zipcar logo are trademarks of Zipcar, Inc.

SOURCE Zipcar

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