GM And Toyota Are New Players In The Car-Sharing Service Area

GM and Toyota

GM and Toyota will be new players in the car-sharing service area as they will be expanding or investing.

GM and Toyota will be new players in the car-sharing service area as they will be expanding their current base or investing in new ones.

General Motors, or GM, is not new in the area as it already offers its own car-sharing service in the form of MAVEN.

The MAVEN cars are already offering their services in a number of other U.S. cities including Washington D.C., Denver, Boston, San Francisco, Chicago and Jersey City, and will soon run in Los Angeles as well.

The GM MAVEN service is characterized as being a digitally smart option, as it comes with an included 4G data plan and other high-tech equipment and smart options. It also includes fuel and insurance costs and comes at a price of $6 up to $8 per hour.

All the MAVEN cars are new models of the Cadillac, Chevrolet, And GMC brands, and are seen by General Motors as a way for potential future customers to both enjoy a pleasant ride, and also test a new car model.

Since being released earlier this year, the GM MAVEN cars have already reportedly registered more than 12,000 reservation which carried them for over 23 million miles.

The MAVEN car sharing services are also available to Lyft drivers who can rent them by the hour.

In the meanwhile, Toyota has decided to invest in the Getaround startup. Toyota has invested in the car-sharing company through its Mirai Creation Investment Partnership venture fund.

The Getaround San Francisco-based service is a private owner car-sharing option which currently operates in a number of U.S. states and cities. The service can be found in Californian San Francisco, Oakland, and Berkeley, Oregon-based Portland, Washington D.C., and Chicago.

The service, which reports over 200,000 members, is different from the MAVEN service as it proposes that private car owners share their cars.

The vehicle owners can offer their car on an hour or day basis, and Getaround estimates a possible $10,000 a year profit for the owners.

As the car-sharing service users are offered an insured ride, the vehicle owners are also covered as each rental is insured with a $1 million policy.

Toyota is also known to be collaborating with Uber as it offers Uber drivers leases.

As GM and Toyota have been venturing into the car-sharing services, joining a slew of others already including Daimler and BMW, it is predicted that other carmakers will be joining in the area as predictions tend to indicate that people will slowly be renouncing the private vehicle variant.

Besides GM and Toyota, a number of other companies have been experimenting with the range of car-sharing services and options as, for example, Tesla intends to introduce the Tesla Network that will feature self-driving car-services once the aforementioned cars become legal.

Image Source: Wikimedia

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