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The economics of sharecars compared to individually owning one ppt
- 1. The Economic Analysis of the Integration of Sharecars into Brisbane, Australia’s Transport System BY BRITTANY FOWLER
- 2. Abstract The aim is to analyse the economics of sharecars in Australia in comparison to the economics of owning a vehicle in Brisbane, Australia. This is being conducted in order to determine whether sharecar programs would prove economically successful if implemented within Brisbane, Australia’s transport system.
- 3. Introduction Step 1 – Researched the annual cost of owning a vehicle in Brisbane. Step 2 – Investigated sharecar programs present within Australia. Step 3 – Analysed and calculated annual costs of utilising a sharecar. Step 4 – Compared annual cost of sharecars against owning a vehicle in Brisbane. Step 5 – Analysed, discussed and concluded results.
- 4. Historical Background Locations North America South America Europe Australia & New Zealand Asia Carsharing Program -Capital CarShare -Carrot -CarShare HFX -City of Aspen -CAR TO GO -Coast Car Co-op -Communauto -Community CarShare -eGo CarShare -Enterprise CarShare -eThos Electric Car Share -Evo -Hourcar -Ithaca Carshare -OGO Care Share -Peg City Car Co-op -Saskatoon -CarShare Co-op -VRTUCAR -Float CarShare -Zazcar -Anytime -Bluemove -Playcar -Respiro -Ubeeqo -CityHop (NZ) -Flexicar -GoGet -GreenShare Car - Carzonrent / Myles -Socar -Zoomcar Total Programs =19 =2 =5 =4 =3 (The Car Sharing Association, 2016)
- 5. Historical Background 0 5 10 15 20 25 Australia Europe North America Predicted Vehicle Reductions by each Sharecar Series 1 Series 2 (Shaheen, S., Chan, N., Micheaux, H., 2015)
- 6. Historical Background Sharecars can Prove Problematic for Reasons of: Unavailable Vehicles Vehicles a further distance away than desired Vehicles are difficult to locate or not in the place they were listed Imbalances between car stations in conjunction with the guarantee of vehicles availability. Type of vehicle required is not offered/available. If supply and demand of vehicles do not align during peak periods. Utilising vehicles after a previous driver creates liabilities on that previous driver. Personal Vehicle Ownership can Prove Problematic for Reasons of: Washing vehicle Pumping up tyres Ensuring timely servicing of the vehicle Insurance Depreciation Servicing Upfront Cost
- 7. Historical Background Three Sharecar Models Peer-to-peer Allows members of the program to utilize their own vehicle for sharing purposes. Roundtrip The vehicle being picked up and dropped off in the same parking space it originated from. Point-to-point The vehicle is picked up from any location with no prior reservation and left it anywhere within the systems designated service area.
- 8. Discussion of Latest Work in Area In a survey conducted by Martin and Shaheen in North America on 9,600 sharecar members: 71% of respondents made no change to their car ownership 25% reduced their car ownership (mostly from one car to no cars) 4% increased their car ownership Most Common Motivators for using Sharecars Cost savings Convenient locations Guaranteed parking (Shaheen, S., Adam P. 2007)
- 9. Discussion of Latest Work in Area Introduction of GoGet Go Cards To enable a better way of integrating into the existing transport systems. To further motivate members to jump on board the new payment system offers a free $15 upon their first Go Card purchase (Brisbane Development.com, 2012)
- 10. Further Theory Development Private Vehicle Ownership Cost Parameters: Vehicles being bought new Been Operating for 5 years Travelled annual distance of 15,000 km The cost applicable for a 5 year Queensland Smartcard Driver’s license as of the 1st of July 2015 was utilised. Annual depreciation for private vehicles was calculated using the market rates for each manufacturer. On-road costs including statutory charges and average dealer delivery fee of $2375.00 are not included in the purchase price and are factored into the relevant indicated line of the standing costs’ (RACQ, 2015). The interest considered has been that of a RACQ loan which is secured, has 5 term monthly repayments, and assumes a fixed interest rate of 7.45%, a $294.00 loan application fee and $15.44 for the registration of interest and search fee.
- 11. Further Theory Development GoGet Carshare Program Parameters: For simplicity in calculations the time spent daily driving is 1 hour for every sharecar program. Calculations exclude the available $1.50 per hour extra ($5 minimum per booking) and up to $18 per day for reducing damage cover. Calculations exclude extra surcharge incurred from pod locations. The Business Plan’s $500 credit card preauthorisation is applied. (GoGet CarShare, (2016).
- 12. Further Theory Development Flexicar Program Parameters: The University plan includes: Comprehensive damage cover Roadside assist Fuel Unlimited kilometres with every hourly booking The excess is $1200 unless the member is under the age of 21, then it is $1500. Calculations exclude the $2 per hour which is capped at $14 a day offered to reduce the excess (Flexicar, 2013). Other rates are offered for selective vehicles
- 13. Further Theory Development GreenShare Car Program Parameters: Provides at least 150km on every booking made Calculations exclude excess reduction method of $1.99 per hour up to a maximum of $16.50 per day. Provided within the Basic Members plan are $50 worth of credits which is automatically used in place of money Calculations exclude possible parking levies Different rates are offered for more luxurious vehicles
- 14. Further Theory Development Car Next Door Program Parameters Rates are provided by owner of vehicle. As rates vary the calculations utilize the greatest rate. Preauthorisation cost is also ranged and so $500 was applied. Calculations exclude methods to reduce excess.
- 15. Results, Discussion & Summary Sharecar Program Summary Flexicar and Greenshare Car had the most economic annual hourly and daily rates. The annual hourly rates are more economic than the annual daily rates for every program. Annual daily costs > annual hourly costs The annual rates are similar to owning a highly economically efficient small car. The daily rates are economically greater than owning a luxurious vehicle. The integration of sharecars in Brisbane economically is sustainable, in regards to personal preferences is undetermined. The resultant summaries can be viewed on the following slide
- 16. Conclusion 0 5000 10000 15000 20000 25000 30000 35000 40000 45000 50000 GoGet Flexicar GreenShareCar Car Next Door Personally Owned Vehicles Annual Price of Personally Owned Vehicles in Brisbane Compared to that of Sharecars Smallest Hourly Rate Greatest Hourly Rate Smallest Daily Rate Greatest Daily Rate Annual Cost of Suzuki Celerio Average Annual Cost of Small Car Class Average Annual Cost of Medium Car Class Average Annual Cost of Large Car Class Average Annual Cost of All-Terrain SUV Class
- 17. Final Conclusions & Recommended Future Investigations The objectives for the following investigation were met and it is clear that economically sharecar programs are more beneficial than individually owning a vehicle in Brisbane. It is economically beneficial for drivers if sharecar programs were adopted within Brisbane’s transport system. However, if drivers within Brisbane prefer the greater costs in return for their personal preferences to be met, then the successful incorporation of sharecar programs into Brisbane’s transport system remain undetermined. Further investigations into the personal preferences of drivers within Brisbane would prove beneficial in determining the future application of sharecars. This can be accomplished through conducting surveys on drivers in Brisbane with different lifestyles, driving patterns and personal transport preferences.