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RelayRides launches US-wide peer-to-peer car sharing marketplace; car2go car-sharing expands to new cities

5 March 2012

Peer-to-peer car sharing service RelayRides is expanding and is now available to car owners and renters nationwide. RelayRides’ model is based on neighbors renting out their cars to fellow neighbors, instead of one that requires ownership and maintenance of a car fleet.

RelayRides will use a key-exchange program—i.e., the owner handing the key over to the renter—a method the company calls a “frictionless” way to enable peer-to-peer sharing.

The company also recently announced an exclusive relationship that will allow millions of GM vehicle owners to leverage the OnStar system to rent out their idle cars through the RelayRides marketplace, with no additional hardware installation needed.

Covered by a $1-million insurance policy, RelayRides owners can make an average of $250 per month in revenue while providing drivers with access to a vehicle for as little as $5 per hour, according to the company. RelayRides is backed by more than $13 million in venture capital funding from investors including Google Ventures and GM Ventures.

Separately, Daimler car-sharing subsidiary car2go car2go North America, LLC, announced it will launch in two new cities: in Washington, DC beginning 24 March and in Portland, Oregon beginning 31 March.

March 5, 2012 in Brief | Permalink | Comments (3) | TrackBack (0)

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Comments

The insurance is the key.

I'm glad to see this.  Maybe it will lead to people realizing that only one person on the block needs to own a 4x4 pickup for snowstorms and tough jobs, and just about everyone else can have something that gets 40 MPG or better.

@EP,
You have it in one - much fewer people will need buy huge cars for occasional use.
It works for EVs as well, you can rent an ICE for the occasional long trip.
You probably want daily and weekly rates as well, and car swapping.

Another feature of this is that EREV or CNG vehicles could pay off in this sort of application due to the greater annual mileage (perhaps on the order of a fleet vehicle).  This would reduce fuel consumption by the heavier vehicle also.

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