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NAICS Code 488999-03 Description (8-Digit)

Car Sharing is a transportation service that allows individuals to rent a vehicle for a short period of time, typically by the hour or day. This service is often provided through a mobile app or website, where users can reserve a car, unlock it with their phone, and return it to a designated location when they are finished. Car Sharing is a convenient and cost-effective alternative to traditional car ownership, especially for those who live in urban areas and do not need a car on a daily basis.

Hierarchy Navigation for NAICS Code 488999-03

Tools

Tools commonly used in the Car Sharing industry for day-to-day tasks and operations.

  • Mobile apps for reserving and unlocking cars
  • GPS tracking systems for locating and monitoring vehicles
  • Payment processing software for handling transactions
  • Fleet management software for tracking vehicle maintenance and availability
  • Customer relationship management (CRM) software for managing user accounts and preferences
  • Telematics devices for monitoring vehicle usage and performance
  • In-car technology for providing navigation and entertainment options
  • Fuel card systems for managing fuel expenses
  • Vehicle cleaning and maintenance equipment
  • Parking management software for reserving and managing parking spaces

Industry Examples of Car Sharing

Common products and services typical of NAICS Code 488999-03, illustrating the main business activities and contributions to the market.

  • Hourly car rental
  • Peer-to-peer car sharing
  • Corporate car sharing
  • One-way car sharing
  • Electric car sharing
  • Station-based car sharing
  • Free-floating car sharing
  • University car sharing
  • Car sharing for government agencies
  • Car sharing for non-profit organizations

Certifications, Compliance and Licenses for NAICS Code 488999-03 - Car Sharing

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

  • Car Sharing Operator Permit: A permit required by some cities and states in the US to operate a car sharing service. It ensures that the operator meets certain safety and insurance requirements. The requirements and application process vary by location.
  • Transportation Network Company (TNC) License: A license required by some states in the US to operate a transportation network company, which includes car sharing services. It ensures that the operator meets certain safety and insurance requirements. The requirements and application process vary by state.
  • Car Rental Excise Tax: A tax required by some states in the US for car rental and car sharing services. It is used to fund transportation-related projects and programs. The tax rate and collection process vary by state.
  • Federal Motor Carrier Safety Administration (FMCSA) Registration: A registration required by the FMCSA for companies that operate commercial motor vehicles, including some car sharing services. It ensures that the operator meets certain safety and insurance requirements. The requirements and application process vary by type of vehicle and operation.
  • General Data Protection Regulation (GDPR) Compliance: A regulation required by the European Union for companies that collect and process personal data of EU citizens, including some car sharing services. It ensures that the operator protects the privacy and rights of the data subjects. The requirements and compliance process vary by type of data and operation.

History

A concise historical narrative of NAICS Code 488999-03 covering global milestones and recent developments within the United States.

  • Car sharing has been around since the 1940s, but it wasn't until the 1990s that the industry began to take off. In 1948, a Swiss cooperative called Sefage was established to provide shared cars to its members. In the 1960s, car sharing programs began to appear in Europe, and by the 1980s, the concept had spread to North America. In 1998, Zipcar was founded in Cambridge, Massachusetts, and became the first car-sharing company to use the internet to connect members with available cars. Since then, the industry has continued to grow, with new companies entering the market and existing companies expanding their services. In recent years, car sharing has become increasingly popular in the United States. According to a report by the Transportation Sustainability Research Center at the University of California, Berkeley, the number of car-sharing members in North America grew from 50,000 in 2005 to 1.7 million in 2014. The report also found that car sharing has the potential to reduce greenhouse gas emissions and traffic congestion, as well as provide cost savings for consumers. In 2013, the car-sharing company Car2Go launched in the United States, offering one-way car sharing in several cities. Other companies, such as Zipcar and Enterprise CarShare, have also expanded their services in the United States in recent years.

Future Outlook for Car Sharing

The anticipated future trajectory of the NAICS 488999-03 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

  • Growth Prediction: Growing

    Car sharing is expected to continue its growth in the USA in the coming years. The industry is expected to benefit from the increasing demand for sustainable transportation options, as well as the growing trend of urbanization. The rise of the sharing economy and the increasing popularity of ride-hailing services are also expected to contribute to the growth of the car sharing industry. However, the industry may face challenges such as regulatory issues, competition from traditional car rental companies, and the need for significant investment in technology and infrastructure to support the growth of the industry.

Industry Innovations for NAICS Code 488999-03

Recent groundbreaking advancements and milestones in the Car Sharing industry, reflecting notable innovations that have reshaped its landscape.

  • Zipcar launched a new service called "Flex Mode" that allows users to pick up and drop off cars anywhere within a designated area, rather than at a specific location.
  • Turo, a peer-to-peer car sharing platform, raised $250 million in funding to expand its services in the USA and internationally.
  • Getaround, another peer-to-peer car sharing platform, launched a new feature called "Instant Rentals" that allows users to rent a car without having to meet the owner in person.
  • Maven, General Motors' car sharing service, expanded its services to include long-term rentals for Uber and Lyft drivers.
  • Car2Go, a car sharing service owned by Daimler, launched a new service called "Car2Go Packages" that allows users to rent a car for a longer period of time, up to 21 days.
  • Enterprise CarShare, a division of Enterprise Rent-A-Car, expanded its services to include electric vehicles in several cities across the USA.
  • Lime, a bike and scooter sharing company, launched a new service called "LimePod" that allows users to rent a car for short periods of time.
  • ReachNow, a car sharing service owned by BMW, expanded its services to include ride-hailing and delivery services.
  • Carma, a carpooling app, launched a new service called "Carma Carpool for Companies" that allows employers to offer carpooling as a benefit to their employees.
  • HyreCar, a platform that connects ride-sharing drivers with car owners, went public on the NASDAQ stock exchange.

NAICS Code 488999-03 - Car Sharing

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