General Motors will allow even more owners of its cars to rent their vehicles out for money through its Maven car-sharing service. On Tuesday, GM announced an expansion to 10 new cities by the end of 2018. The service, which launched this summer in Ann Arbor, Michigan, and Detroit, will be expanding to Baltimore, Boston, Washington, D.C., Los Angeles, San Francisco, and more in the near future.
Maven’s platform allows owners of GM vehicles to rent out their cars, trucks, and SUVs by the hour or for a full day or more, yielding a 60 percent share of the revenues from each rental. The company says the owner of a 2018 Chevrolet Cruze can make $533 a month renting their car for 7 days in a month, or $6,401 in a year for 12 weeks of renting.
Owners of sportier or less common vehicles like a Chevrolet Camaro coupe or GMC Sierra pickup can make up to $19,278 a year for 12 weeks of renting. The service is only available for owners of GM vehicles that are model year 2015 or newer, and each vehicle must go through an onboarding process to add features like keyless entry if not already installed. Also, manual transmission vehicles aren’t allowed, presumably to protect owners’ clutches from the ravages of inexperienced drivers.
Maven isn’t the only peer-to-peer car-sharing service out there, as popular apps like Turo and Getaround also allow people to rent out their vehicles, but it is the largest of its kind operated by an automaker. This allows Maven to offer benefits like up to $1 million in liability insurance, and the ability to rent from a fleet of cars like ZipCar or Daimler’s Car2Go.
Maven also offers a service that lends cars to rideshare drivers for Uber, Lyft, and more, and boasts over 180,000 reservations and 300 million miles driven as of July of this year.