IP: Flexcar -- first I heard of it

[Dave Farber <dave () farber net>]

DETROIT ‹ Honda Motor Co said on Tuesday it has bought a 18.4% stake in
Mobility Inc, a privately held company which operates the Flexcar
car-sharing program in three major U.S. cities.

Terms of the deal were not disclosed.

Flexcar provides an alternative to car ownership by offering a network of
vehicles parked in neighborhoods, ready for use. The vehicles can be
reserved ahead of time and customers are charged a fee for the time the car
or truck is used and the mileage. Insurance, gas, maintenance and all other
costs associated with a vehicle are included.

Flexcar serves more than 4,000 customers in Washington, DC, Seattle and
Portland, Oregon.

Honda said the Flexcar program gives it a chance to make some additional
vehicle sales and expose its cars to potential customers who may buy their
own car or truck in the future.

"You definitely get some exposure to the vehicles," said Honda spokesman Art
Garner. "We see some long range potential, not only for vehicle sales ...
but the technology used to manage and operate these systems."

Honda runs its shared-car program, which it calls Intelligent Community
Vehicle System, in Japan, Singapore and California. (Reuters News)

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