GM plans to launch a car-sharing program this year

Lloyd Doyle
March 14, 2018

But according to the latest Bloomberg story, GM vehicle owners will soon be able to rent their cars to other individuals through the same Maven app. Vehicle sales that seem to be peaking and technological advances have led the company to think outside the box, and that's inspired thoughts that the auto giant is transitioning from manufacturer to mobility provider.

The pilot-which GM will try to grow into a full-fledged business if it's successful-could mark another step forward in GM's transition from manufacturer to mobility provider.

It makes sense that, with the success of Maven, GM would want to expand the program.

GM has declined to comment on the news since the plans are not public yet but it's likely that riders will share the revenue with GM.

GM's Maven unit rents vehicles to drivers, including customers looking for short-term wheels. It also offers rentals for drivers who work for ride-hailing services such as Lyft.

Start-ups Turo and Getaround are two bigger names in the space, although GM dwarfs both upstarts with its market value of nearly US$53 billion.

The company's Maven unit already rents out vehicles, but the launch of a peer-to-beer business would give the company access to more vehicles without the need to add additional assets. Turo has about 5 million users signed up, with 200,000 cars available to rent.

Getaround raised US$45 million in April past year, with Toyota Motor Corp among the companies buying in. Other firms already do with cars what Airbnb Inc. has done for realty: allow drivers to lend their vehicles to defray the cost of ownership or make extra income.

Tesla has envisioned a peer-to-peer service that allows owners to make money from their auto while it would otherwise be wasting time in the garage or in a parking lot.

Other reports by Iphone Fresh

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