BMWs DriveNow carsharing arm now turning a profit
BMWs DriveNow carsharing arm now turning a profit Carsharing venture DriveNow GmbH, owned by BMW and European rental company Sixt AG, is expected to be profitable this year, the first time that will happen since starting up two years ago. BMW hopes to overtake German rival Daimler (with Car2go) in this growing space as urban consumers become more interested in transportation alternatives like carsharing. BMWs DriveNow carsharing arm now turning a profit BMWs DriveNow carsharing arm now turning a profit BMWs DriveNow carsharing arm now turning a profit Since starting in May 2011, DriveNow has taken root in four German cities, and any further expansions will be limited to where the project can make money, said Andreas Schaaf, the partnerships managing director. This is certainly possible, since two more locations are on schedule to be added, one in Germany and another elsewhere in Europe, sometime this year. "We could expand quicker, but we want to prove that the business can be pr...