Maven, GM’s Car-Sharing Brand, Expands into Long-Term Rentals
General Motors can be producing monthly rentals part of its Maven car-sharing program. Starting today in San Francisco as well as Los Angeles, members of the app-based mobility service can book a Chevrolet Volt extended-range hybrid or a Chevrolet Tahoe SUV for 28-day blocks of time. Soon, GM plans to roll out This kind of long-term rental service, called Maven Reserve, in more markets.
The year-old mobility brand can be more closely associated with hourly as well as daily rentals from the 17 cities in which the item operates. Maven’s data showed which users in San Francisco as well as Los Angeles often need longer-term rentals for short-term stays in those areas associated with work.
“The service was developed initially for entertainment as well as entrepreneurial communities seeking frictionless, on-demand transportation options as well as longer-term access to vehicles,” a Maven spokesperson said. “the item’s a huge opportunity for us as well as comes coming from listening to our customers.”
Users will pay $1100 per month for the Volt as well as $1500 per month for the Tahoe, as well as those prices feature a $100 gas card, insurance, as well as dedicated parking spots.
Those prices are on par with costs for rental cars in these two areas, yet the legacy car-rental firms don’t include the same perks. For 2 examples, a cursory search for 28-day rentals coming from traditional car-rental companies shows Hertz charging $1483 for a Toyota 4Runner or similar SUV in Los Angeles as well as Dollar asking $1334 for a month in a Chevrolet Spark in San Francisco.
The advent of ride-sharing services as well as the blurring of lines between car sharing as well as traditional car rentals has taken a toll on companies like Hertz as well as Avis. The stock cost of Hertz Global Holdings has plummeted more than 78 percent over the past three years. from the same period, the stock cost of Avis Budget Group has fallen 29.5 percent. Maven’s push into a longer-term rental space will likely further squeeze traditional rental companies.
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The announcement marks the latest expansion of Maven’s business. Last month, the brand added the brand-new, all-electric Chevy Bolts to its lineup in certain cities, including Los Angeles, where executives say average membership has grown 56 percent in each of the months since its October 2016 launch in which location. Bolts are soon slated to arrive from the San Diego as well as an Francisco Maven fleets. yet you can’t get a Bolt for a month—at least, not yet. brand-new Yorkers, meanwhile, might be interested from the similar yet unrelated “Book by Cadillac” service; the item has nothing to do with Maven, yet allows usage of a variety of Cadillacs for a flat $1500 a month.