General Motors said to plan an Airbnb for vehicle sharing services

General Motors said to plan an Airbnb for vehicle sharing services

GM's Maven division already provides vehicles to interested users in select areas, but those cars are wholly owned by GM and can only be borrowed in 28-day increments.

If GM's service goes ahead, it could potentially add millions of vehicle sharing opportunities to the market overnight, which is bad news for companies such as Uber or Lyft. This not only benefits vehicle owners looking to make some extra cash, but also GM as the auto giant will be able to generate revenue without having to "carry more hard assets on its balance sheet".

GM has declined to comment on the news since the plans are not public yet but it's likely that riders will share the revenue with GM.

Maven already rents vehicles to individual drivers, including customers looking for short-term wheels, as they have through services such as Zipcar.

Up to this point, GM has owned those cars. There are other startups like Turo and Getaround that exist in this area, there are now no existing companies that have the resources or reach like GM does.

Getaround raised US$45 million in April a year ago, with Toyota Motor Corp among the companies buying in.

In light of the impact that Airbnb has had on the hotel industry, it's certainly not surprising that auto rental companies are leery of companies like Turo and GM's forthcoming vehicle sharing service.

"Carmakers are preparing for disruption, so they are experimenting with different models", Marian said by telephone. Tesla has hinted at a future peer-to-peer sharing network, though the vision CEO Elon Musk laid out in July 2016 alludes to a service using fully self-driving cars. Tesla CEO Elon Musk has also expressed interest in the idea which he believes will "dramatically [lower] the true cost of ownership to the point where nearly anyone could own a Tesla".

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