GM launched a car-sharing service that lets car-owners rent their Cadillacs for cash 

GM, which has invested big bucks in electric vehicles and self-driving cars, just rolled out a car-sharing option for GM owners to make extra cash.

Owners of Chevrolet, Buick, GMC, and Cadillac cars can now rent out their rides when they’re not using them via GM’s new program, Peer Cars. 

Since its bankruptcy, GM has bet big on alternative auto options to stay ahead of the curve.

Sharing is caring

According to a GM statement, Peer Cars will launch immediately in Chicago, Detroit, and Ann Arbor, offering “GM owners the opportunity to earn income by listing their vehicles.” The program, run by GM’s ridesharing division, Maven, will expand to other US cities in the fall. 

Peer Cars will compete against growing on-demand car-sharing startups Turo and Getaround. Other automakers like Ford have formed partnerships with car-sharing companies, but none have launched their own programs.

GM has changed since grandpa bought his Buick

Since Uncle Sam sold off his last GM shares in 2013 (completing GM’s $49.5B bailout), the “new GM” has invested heavily in new technology. 

GM launched the first widely available fully electric car, the Bolt, in 2016 — beating rival Tesla to the mass market. Then, GM bought Cruise for $1B and quickly gained a lead in the race to bring self-driving cars to streets. 

Now, with the debut of Peer Spaces, GM will become the first major automaker to dive into the sharing economy. 

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