IGO Car Sharing, owned and operated by the not-for-profit Center for Neighborhood Technology, was acquired by Enterprise, traditional car rental company, earlier this week for an undisclosed amount. Enterprise has its own car-share system, but the company will keep the IGO brand in Chicago.
IGO CEO Sharon Feigon sent out a press release yesterday to members, saying, "With IGO and Enterprise’s combined carsharing expertise, along with the injection of Enterprise’s financial and fleet resources, we will be able to provide an even higher level of service for our proud member community and continue our mission to help people live well without having to own a car."
IGO competes with Zipcar and its nationwide network, and a major benefit of the buyout is that IGO members will have access to the Enterprise CarShare network nationwide (a discount on Enterprise traditional rental cars was already offered). Enterprise CarShare tends to be located near universities but it has a wider presence in New York City and smaller cities. The Enterprise CarShare website already lists IGO as a partner in Chicagoland (cars are available from IGO in Evanston, Berwyn, and Oak Park).
The household financial incentives to substitute car-sharing for owning a car continue to intensify. The American Automobile Association pegs the cost of car ownership at $9,100 per year, up from $8,900 last year. Meanwhile, IGO hourly pricing hasn't changed in two years.
