In the year 2000, a one hour rental of Zipcar would be worth approximately $9.54. This number was created through a combination data collected by The Federal Highway Administration (FHWA) and the United States Bureau. According to the FHWA, ownership and operating costs of an intermediate size vehicle in the year 2000 averaged $.469/mile. This number is broken down into 8 different costs per mile:
1. Repairs- 0.9 cents
2. Depreciation- 16.4 cents
3. Fuel Tax – 1.9 ...view middle of the document...
8. Insurance- 12.7 cents (Our Nations Highways).
After finding this data my next objective was to determine how many miles an average customer drives in an hour. To be specific, my main demographic was the college-educated individual since they were the most receptive to the car sharing idea. With this detail in mind, it was important to find data regarding the amount of miles an hour a college student may drive. I created this number by using the amount of miles a college student drives on a daily basis and multiplied it by the average cost per mile, which was 46.9 cents. To represent the amount of miles by a college student, I discovered data that shows that the average college student drives 20.3 miles a day (Our Nations Highways). I multiplied this number by 46.9 then divided it by 100 to get the exact dollar amount. This number came to approximately $9.54. However, to be more precise, the cost per hour for a Zipcar would be even more depending on the size of the car. For example, for a large party of customers, a mini-van may be needed. According to the FHWA, it costs 50.7 cents per mile (Our Nations Highways). When this is multiplied by $20.3 and divided by 100, the resulting price is $10.29 per hour.
Our Nations Highways." U.S Department of Transportation. Oct. 2010. Accessed March 2016. <https://www.fhwa.dot.gov