General Motors said to plan an Airbnb for vehicle sharing services

Marco Green
March 13, 2018

Maven, General Motors' mobility brand, on display in the front of the New York Stock Exchange Monday, May 15, 2017, in New York, New York. The service will debut in a test pilot set to begin this summer, under GM's Maven mobility sub-brand, per the report, and will allow GM auto owners to list their vehicles on the platform for short-term rental by other users when not in use.

The Airbnb-like service for cars is scheduled to roll out this summer through Maven, GM's car-sharing service, according to a Bloomberg report on Tuesday.

After GM's stock stagnated for years as investors fretted over peaking vehicle sales and Silicon Valley's offensive on the auto industry, the shares rose to a record high in October last year as its self-driving vehicle plans and services like Maven gained traction with investors.

Maven, which launched in 2016, has its own fleet of GM vehicles and allows consumers to rent a auto by the hour through a mobile app.

GM's Maven unit already rents vehicles to individual drivers and Maven Gig also lends cars to drivers who want to earn income by driving for third party on-demand transport service providers such as Uber and Lyft. The company will be entering a market catered to by smaller players, with Turo and Getaround being the most successful so far. Turo has about 5 million users signed up, with 200,000 cars available to rent.

Peer-to-peer businesses could make more sense than car-sharing services that require owning and maintaining vehicles, said Alexandre Marian, a director in the automotive and industrial practice at consultancy AlixPartners LLP. "This dramatically lowers the true cost of ownership to the point where nearly anyone could own a Tesla".

Other reports by Click Lancashire

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