NEWS COMMENTARY

GM shuts down Maven as yet another automaker scales back car-sharing ambitions

Published:
April 23, 2020
Coverage:
The Future of Mobility
Activities:
Strategy
Very important

The announcement follows significant cutbacks to the Share Now service (formerly Car2Go) operated by Daimler and BMW. While challenges related to COVID-19 were cited as one reason for the closure, operations were significantly scaled back throughout 2019, and Maven was likely to shut down regardless. Companies with little experience in fleet ownership have struggled to operate car-sharing schemes, while Avis-owned Zipcar has been much more successful, with annual revenues in the hundreds of millions of dollars and a fleet size of just over 10,000 vehicles. Clients should interpret this announcement as an indication that automakers will exit loss-making shared mobility bets, rather than an indication that car-sharing won't survive long-term.

For the original news article, click here .


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