Looking to make money renting out your car or truck?
General Motors thinks a lot of people are interested in making cash off their car, which is why the automaker announced Tuesday it is launching a peer-to-peer car-share business.
The business will operate under the company’s Maven brand, which already has a more traditional car-share business in several cities and more than 150,000 users.
For GM, expanding into peer-to-peer car sharing is the latest move to develop new revenue streams and business lines to complement the company’s core business, which is selling new vehicles.
It’s premature to regulate the self-driving vehicles being tested by companies such as General Motors Co. and Waymo LLC, the U.S. government’s top auto safety official said.
“At this point the technology is so nascent I don’t think it is appropriate today to regulate this technology,” Heidi King, deputy administrator of the National Highway Traffic Safety Administration, said in an interview. “It’s not there yet, but each and every day we are open to identifying when the time is right.”
- Between Uber and Lyft, millennials are spending upwards of $100 a month on ridesharing services in some cities.
- Money managing app Empower surveyed 50,000 users across the US to determine how much millennials pay for Uber and Lyft per month in 29 cities.
- Uber and Lyft were born in San Francisco and users there spend the most.
Getting around major metropolitan areas can be hard on foot and at times unbearable using underground transportation. Ridesharing apps like Uber and Lyft thrive in areas with a highly concentrated population — and some millennials are spending over $100 a month to use them.