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GM's Maven Trials P2P Car-sharing Service in Major U.S. Cities

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【Summary】Profit sharing for the service benefits vehicle providers, at a ratio of 60/40 (60 percent goes to the owner of the car; Maven receives 40 percent).

Michael Cheng    Aug 05, 2018 4:00 PM PT
GM's Maven Trials P2P Car-sharing Service in Major U.S. Cities
author: Michael Cheng   

Participating in car-sharing programs (as a vehicle provider) is an effective way to generate passive income. In the U.S., GM's Maven is a leading service that facilitates car-sharing activities for locals. The company announced it would be expanding to cater to owners of Chevrolet, Buick, GMC and Cadillac vehicles, via a peer-to-peer service.

Vehicles within the P2P car-sharing program will be labeled as Peer Cars. Customers can choose to rent listed units on hourly, weekly or monthly terms, without being tied to membership fees.

P2P Car Sharing

Profit sharing for the service benefits vehicle providers, at a ratio of 60/40 (60 percent goes to the owner of the car; Maven receives 40 percent). The service has been compared to Turo, which offers similar P2P car-sharing incentives on its platform.

GM units under Peer Cars are equipped with OnStar telematics features, making the car-sharing experience incredibly seamless. Renters do not need to have a manual key to start the vehicle, as it can be performed using the Maven mobile app. Additionally, remote location tracking is included with the service, for direct retrieval of the unit during the transaction.

"You see the willingness for the Airbnb members to put their house on the platform," said Julia Steyn, Vice President of GM Urban Mobility and Maven.

"I think it's a lot less personal and emotional to put a car on the platform than your own bed."

For peace of mind, GM provides insurance for participating vehicles (up to $1 million). The company also screens vehicle providers and customers, which must be approved before using the service. To get started, vehicle owners are required to enroll on the Maven website and list their car.

Testing in Major US Cities

Before moving forward with a full-scale release, the smartphone-based service must first be tested extensively. At the moment, beta testing is ongoing in Chicago, Detroit and Ann Arbor. Feedback from locals and customers residing in those areas will be used to determine the strategy for a nationwide roll out of the P2P service. Plans to launch the service in other US cities are currently in the works, which is expected to start in the coming months.

To date, Maven has handled around 180,000 vehicle reservations, with over 300 million miles driven by customers.

"We're testing Peer. The Beta helps us better understand the owner part of the equation – what do they need, how do they like to be engaged, does the app meet their needs, etc.," explained Annalisa Bluhm, a GM spokeswoman.

"It's very much an important and necessary learning process ahead of full commercialization."

Interestingly, Maven offers a wide range of services to complement its automotive ventures. Maven Home is a personalized car-sharing service that provides customers with direct access to a fleet of vehicles inside their residential building.

Furthermore, Maven Gig is a comprehensive reservation service (includes access to rides, food deliveries and more) for busy individuals with on-the-go lifestyles. Lastly, Maven operates an electrified fleet of 20 Chevy Bolts in Austin, Texas.

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