Economy

GM may test a carsharing program this summer

GM may test a carsharing program this summer”

Bloomberg reported that a pilot scheme will enable GM auto owners to rent out their vehicles when they aren't using them and the scheme could start this summer. While GM is running Maven, the company is looking to expand the service.

It's a natural progression for GM and Maven in many ways: Supply side, it makes sense to work with existing GM vehicle owners to offer more choice and variety to renters on its platform.

The report cited anonymous sources who said GM vehicle owners would split the resultant revenue earned with the automaker.

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.

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 as its self-driving vehicle plans and services like Maven gained traction with investors.

A spokesman for Detroit, Michigan-based GM declined to comment. Under the pilot program, owners of Chevrolet, Buick, GMC and Cadillac vehicles who sign up will be able to rent their cars to other drivers. It basically would work like an Airbnb for cars.

Automaker General Motors is said to be planning a new peer-to-peer vehicle rental service, similar to existing offerings by Daimler-backed Turo and startup Getaround, to debut as early as this summer according to Bloomberg.

Getaround raised US$45 million in April previous year, with Toyota Motor Corp among the companies buying in. Tesla has hinted at a future peer-to-peer sharing network, though the vision CEO Elon Musk laid out in July 2016 alludes to a service using fully self-driving cars. "This dramatically lowers the true cost of ownership to the point where nearly anyone could own a Tesla".



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