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Maven to Expand Peer-to-Peer Car-Sharing Service
General Motors Co.’s Maven unit plans to expand the peer-to-peer car-sharing scheme it launched earlier this summer to seven more cities by year-end.
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General Motors Co.’s Maven unit plans to expand the peer-to-peer car-sharing scheme it launched earlier this summer to seven more cities by year-end.
In addition to pilot programs in Chicago, Detroit and Ann Arbor (Mich.), GM will offer the so-called "Peer Cars" service in Baltimore, Boston, Denver, Jersey City (N.J.), Los Angeles, San Francisco and Washington, D.C.
The program allows owners and eligible lessees to rent their 2015 or newer Buick, Cadillac, Chevrolet and GMC vehicles to Maven users. Vehicle owners set rental rates—within a 20% range higher or lower than Maven’s recommendations—and receive 60% of the fee.
Maven says owners can earn $533 for renting a 2018 Chevy Cruze for one week per month at recommended rates. A 2017 GMC Sierra pickup truck could generate more than $1,000.
To participate, all vehicles much be checked and updated by Maven. The process, which takes about five hours, includes installing a keyless entry system.
GM provides $1 million insurance policies for vehicles while they’re being rented. Users are expected to return a vehicle in the same condition and fuel level as it was when they picked it up.
Maven has more than 190,000 members in the 17 North American markets in which it currently operates. This includes Maven’s base hourly rental service and Maven Gig, which is geared to ride-hailing drivers.RELATED CONTENT
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