Car2go is pulling out of Austin.
The business, owned by the German luxury-car maker Daimler, allows people to rent cars by the minute. In a message posted on the Friday, the company said it "underestimated the investment and resources that are truly necessary to make our service successful in these complex transportation markets amid a quickly-changing mobility landscape."
The company started renting a fleet of mini Smart cars in Austin around 2000. It moved to a line of Mercedes-Benz a few years ago.
Car2go will cease operations here 鈥� as well as in Calgary, Denver and Portland 鈥� on Oct. 31. It will end service in Chicago at the end of December.
According to the Austin American-Statesman, however, it will . It moved into a new building on East Sixth street last year.
Car2go says it will focus its business on the remaining markets where its operating: New York City, Montreal, Vancouver, Seattle and Washington, D.C.
Correction: A previous version of this post incorrectly said the Smart cars were electric.
