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Media Release: Rising costs of car ownership prompt more to share

Vancouver, BC, June 6, 2018 – The rising cost of operating a vehicle continues to be the driving force in a movement away from car ownership, according to a recent survey of its membership conducted by Modo, BC’s first and only carsharing co-operative.  When it comes to joining Modo, 42% point to the fact that it’s cheaper than owning a car as one of their primary motivators, with 39% citing convenience.

In the online survey of more than 3,500 Modo members, 47% said that their Modo carsharing membership allowed them either to get rid of a car they already had or decide not to purchase a vehicle.  The reasons point clearly to the cost of car ownership, with 63% citing the cost of maintenance and insurance as one of the key reasons to shed a vehicle.

Owning a car in BC is expensive.  According to BCAA, we pay an average of $9,000 a year or more to own and operate our vehicles. Couple ICBC’s announcement that it may have to raise its rates, with prices at the pumps hitting $1.60 a litre, and it’s no surprise that Modo is seeing double digit membership growth.

No matter what the reason, the decision to shed one’s personally owned car is a good one for the region – reducing traffic congestion, GHG emissions and the need for so much parking.  Academic research from UBC and UC Berkley indicate that every two-way carshare vehicle, like Modos’, represents 9-13 fewer privately owned cars on our streets. “Any reason for people to choose carsharing over car ownership is a good one for our communities,” says Patrick Nangle, Modo’s CEO. “While few people may be happy to see fuel and insurance rates rise, it’s hard to argue with the economic, social and environmental benefits of fewer privately owned vehicles.”

When you factor in the economics and the environment, carsharing makes both dollars and sense. That certainly seems to be the opinion of Modo’s membership, who in that same member survey delivered a 97% overall satisfaction rating and indicated that 94% are proud to be a member of the co-operative.

About Modo

Modo started in 1997 as the first carshare co-operative in the region. To this day, it remains member-owned, driven by people not profit. Modo provides its two-way, round-trip service, to more than 20,000 members and 800 businesses across the Okanagan, Lower Mainland and Vancouver Island. Members get access to over 600 cars, trucks, SUVs and vans, with rates starting at just $5 per hour, including gas and insurance www.modo.coop

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Contact info:

Selena McLachlan

Director of Marketing & Business Development, Modo

778.989.6085

selena.mclachlan@modo.coop

 

Download the Media Release here.

Modo Co-operative
Vancouver604.685.1393
Victoria250.995.0265
Nanaimo250.741.4141
Kelowna250.469.6617
Modo Co-operative
Vancouver604.685.1393
Victoria250.995.0265
Nanaimo250.741.4141
Kelowna250.469.6617
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