iCarhireinsurance.com's CEO Ernesto Suarez told the Sunday Times that he believes the move towards sharing rather than owning a car is part of a more general trend.
"It's called 'collaborative consumption' - where shared goods or services are distributed via a marketplace to a community of users," he said. "It gives people the benefits of ownership but with reduced personal costs and a lower environmental impact - and is a compelling alternative to traditional forms of buying and ownership. You can see it everywhere from sharing music via online social networks to car hiring."
The article noted that people hiring out their cars, through car clubs like WhipCar, were generally making around £200 per month, while those renting them for the day were spending around £25 - £30 for a mid size car.
As the paper noted car clubs are the perfect solution for many as motoring costs soar.