The rules for car ownership are changing rapidly. In the olden days, it was a given that everyone who could afford it owned a car. Now, with ubiquitous ride sharing and younger generations moving into cities shunning car ownership, carmakers need to get creative about selling cars. Not that the car manufacturers are hurting – they’re selling more cars than ever – but they know the party won’t last. That’s why some manufacturers getting creative are rethinking the traditional models of car ownership.
GM announced a new peer-to-peer car-sharing service. In a nutshell, the service is an Airbnb-type service for vehicles, in which owners of GM-branded vehicles would rent their cars to other people.
GM’s Maven car-sharing company will operate the service.
Car owners will keep 60 percent of the fee charged through Maven’s platform, the company says, and the rate will depend on the type of car that’s being rented. Eligible models include Chevrolet, Buick, GMC, and Cadillac. Maven recommends charging $7.25/hour and $80/day for Chevy Cruzes, $14.50/hour and $145/day for GMC Sierras, and $22.50/hour and $225/day for Chevy Camaros. Maven is also offering a $150 monthly bonus to those users who list their vehicle for 50 percent of the month after the first three months.
Through an app, drivers will able to unlock and start the car using GM’s keyless access technology, so you don’t even have to meet and do a key swap with the renter. Maven says it will also cover up to $1 million in liability insurance, including collision coverage.
The test, for now, will be limited to car owners who live in Chicago, Detroit, and Ann Arbor, Michigan.