General Motors Company (GM) Plans Airbnb-Like Program For Car Owners

GM has been relatively active in exploring new business models in the transportation services space

GM has been relatively active in exploring new business models in the transportation services space

According to Bloomberg, GM will do a pilot program this summer that will allow them to rent out their vehicles for personal use through Maven.

Would you let someone else rent your vehicle?

The tests are to begin in early summer through GM's Maven car-sharing unit, said the people, who asked not to be identified, because the plans are not public.

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The current Maven program uses GM model cars that customers can rent for $9 to $14 an hour and that unlock and start by using the Maven app needing - no keys needed.

A spokesman for Detroit, Michigan-based GM declined to comment.

Up to this point, GM has owned those cars. This isn't the first entry into the peer-to-peer auto market as startups like Turo and Getaround have been around for a few years but they are dwarfed in size by GM. As Bloomberg notes, the number of cars listed on Turo have tripled to 200,000 in the past two years while the service now boasts around five million users. Getaround raised $45 million last April, with Toyota Motor Corp. among the companies buying in. As Alexandre Marian, a director in the automotive and industrial practice at consultant AlixPartners LLP, articulated, "Carmakers are preparing for disruption, so they are experimenting with different models".

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Elon Musk tweeted about it back in 2016 hinting at Tesla owners being able to rent out their rides by tapping a button on a Tesla phone app. Cities like San Francisco are also pursuing legal action to regulate such companies.

A company spokesperson said there was nothing to announce at this time about peer-to-peer rentals, but didn't entirely reject the possibility either, instead saying, "Maven is always looking for ways to remove barriers to sharing".

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