Nonprofit Philly Car Share Sold to For-Profit Enterprise Car Rental Co.
PHILADELPHIA (CBS) - The nonprofit car-sharing company Philly Car Share has been sold to rental giant Enterprise, but its customers may not notice the difference.
Philly Car Share got into financial trouble by expanding too fast, says executive director Gerald Furgione, and as a nonprofit it didn't have access to the kinds of capital that it needed to right itself.
Enterprise Holdings runs not only Enterprise Rent-A-Car but the WeCar car sharing subsidiary, so it's already experienced in this field.
Does Furgione (right) expect big changes?
"We do not," he tells KYW Newsradio. "We want to maintain our nonprofit mentality and continue to serve our customers and to be a good partner with all our community partners here in Philadelphia."
Although Enterprise is based in St. Louis, Furgione says it's almost a local company given the nearly 170 branches it has in this area.
The similarity of car rental and car sharing, local involvement, and a focus on sustainability are three ways the firms say they are a good fit.
Reported by John Ostapkovich, KYW Newsradio 1060
