Car share has more than tripled in Sydney, with 10,000 local residents and businesses joining car share programs over the past three years, according to an independent study.
The SGS Economics and Planning study commissioned by the City shows the economic benefits of car share to City residents and businesses outweigh the costs by a ratio of 19 to one; benefits this year alone are worth around $21 million, including $18.5 million in deferred car purchases by households and businesses.
The study also found that each car share parking space in the city replaced the need for up to 12 private cars.
With limited space on our inner city streets, this study shows car sharing can significantly reduce competition for the limited parking space we do have.
Small businesses are also joining in growing numbers, making up 30 per cent of membership, reducing their overheads and avoiding paying for their own vehicles that may be idle for periods of the day.
Car share is a smart way of having access to a car when you need it, without the cost of buying, insuring, registering, maintaining and running a car.
It is part of the City's overall strategy to address congestion, which includes improved walking and bike networks, and lobbying for improved public transport.
For information on the City's car sharing policy visit http://www.cityofsydney.nsw.gov.au/AboutSydney/ParkingAndTransport/CarShare.asp#COS