PYMNTS Daily Data Dive: GM’s Maven A Precursor to Lyft?

By  |  August 25, 2016
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The effect of GM’s car-sharing operation, Maven, on urban traffic congestion is unclear, but it is causing indigestion for car rental firms. The company is expanding the service at an impressive rate after acquiring Sidecar in January and is stealthily gaining traction in the transportation market. Just six months after acquiring Sidecar for $39 million, Maven is increasing the number of cities where cars can be rented on an hourly basis using its app, and its customer base is growing.

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    Although Sidecar was unable to compete with Uber, it has provided GM with technology and human capital, which the car manufacturer is leveraging in partnership with Lyft to create a driverless car-sharing service.

    Here are the data

    $500 million | The amount that GM is investing in its driverless ridesharing car service in conjunction with Lyft

    4.2 million | The number of miles driven by Maven-operated cars

    5,000 | The number of registered Maven members

    7 | The number of months it has taken GM to build the service

    5 | The number of U.S. cities now offering Maven car-sharing

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