General Motors released Maven, The Hourly Car Rental Service that makes the Detroit company’s latest models available on demand for hourly and daily rentals. Marking its official start in the U.S. by ringing the opening bell at the New York Stock Exchange on Monday, May 15, Maven launched with 80 vehicles available at pickup locations spread throughout the Big Apple.
Like its competitors, Maven operates through a mobile app that allows users to find available cars, reserve them then unlock them with their smartphones. The company now operates in 17 cities throughout North America. The service is aimed to a membership pool that is 80 percent comprised of Millenials. Why? Because this ‘consumer class’ is not so interested in car ownership. GM’s Maven leases new Chevrolet, Cadillac, and GMC vehicles for $6 to $8 per hour, which includes insurance, fuel, and unlimited 4G data connection in the car. Prices vary by vehicle, but it will cost about $100 to use a Chevrolet Cruze for a full day. Maven takes care of the insurance and fuel costs.
GM has a wide range of vehicles available in its Maven service—including large SUVs such as the Chevrolet Tahoe, GMC Yukon and Cadillac Escalade—than its other automaker-backed competitors, which limit their share fleets to compact, city-minded cars.
Update: Brent Taylor’s interview about Maven:
GM isn’t the only automaker experimenting with mobility services. Daimler AG, the parent of Mercedes-Benz, founded car2go in 2008. It’s now operating in 27 cities in North America, Europe and China. BMW AG’s ReachNow car-sharing service is operating in Seattle, New York and Portland, Oregon; it has a larger service, called DriveNow, in Europe. Toyota Motor Corp. announced a partnership with San Francisco car-sharing service Getaround late last year. GM is also a shareholder in the ride sharing service Lyft.