GM Launches Short-Term Car Rental Service

General Motors will provide Chevrolet Equinox SUVs for the drivers through its Maven carsharing business. Photo courtesy of GM.
General Motors will provide Chevrolet Equinox SUVs for the drivers through its Maven carsharing business. Photo courtesy of GM.

Two months after investing in ride-hailing app Lyft, General Motors have announced plans to launch a short-term car rental program aimed at attracting more drivers to the service, according to a report by Fortune magazine.

The Express Drive program will initially offer Chevrolet Equinox SUVs to Lyft drivers in Chicago — before rolling out in Boston, Baltimore, and Washington, D.C.

The cars will be rented out for $99 a week, according to the report. Drivers will pay 20 cents a mile, but this charge will be dropped once they surpass 40 rides a week. If a driver completes 65 rides or more in a week, the rental is free.

GM spent $500 million in January on a 9% stake in Lyft, as it ramps up its efforts to compete with Uber, according to the report.

Lyft Co-Founder John Zimmer says the company has received over 150,000 applications from drivers whose cars aren't good enough for the service in those four cities, says the report. Vehicles must be from the 2004 model year or newer, have four doors, and pass a 19-point vehicle inspection.

GM will provide SUVs for the drivers through their Maven carsharing business, which lets customers rent a car for as short as an hour, says the report.

Click here for the full Fortune magazine report. 

Comment On This Story

Name:  
Email:  
Comment: (Max. 10000 characters)  
Please leave blank:
* Please note that every comment is moderated.

 
 

Newsletter: Sign up to receive latest news, articles, and much more.

Read the latest

Auto Focus Blog: A blog covering fleets, auto rental and the business of cars

Safeguarding Your Business with Brokers

While the high-profile bankruptcy of Atlas Choice has left many car rental companies wary of working with brokers, rental companies can take steps to protect themselves and ensure a productive relationship.

My Number One Takeaway from ICRS 2017

This year’s International Car Rental Show (ICRS) opened the door to new business models facing transportation today — yet adapting to these new technologies is not the first key to survival.

Trump and Regulations: An Alt-Fuel View

With 2025 emissions targets back in review, manufacturers, alt-fuel, and alt-power suppliers weigh in on the potential impacts of Trump’s initiatives.

Job Finder: Access Top Talent. Fill Key Positions.

>