Jun 8, 2023 - Economy

You'll soon be able to rent out your car on Uber

Illustration: Sarah Grillo/Axios

Uber is launching a peer-to-peer car-sharing service that will allow people to earn money by loaning their car to strangers when they are not using it.

Why it matters: It's another way the ride-hailing network is trying to rethink transportation.

Details: Uber got into the car-sharing business last year in Australia after acquiring Car Next Door.

  • Now called Uber Carshare, the service will launch soon in North America, starting in Boston and Toronto.
  • Car owners can set their own daily and hourly pricing, and availability will be listed in 15 minute increments, with no requirements for advance booking.
  • Fuel is included in the cost, and insurance options are available for purchase from Uber.

What they're saying: "For years, Uber has made it effortless to tap a button and get a ride on demand. Now, we're taking the same approach with car-sharing by making it simple, affordable, and sustainable for you to borrow and list cars in your neighborhood," Camiel Irving, head of Uber's rides business in the U.S. and Canada, said in a statement.

Catch up quick: Car-sharing is not a new idea. Zipcar, now a unit of Avis Budget Group, has offered it since 2000.

  • A decade later, RelayRides introduced the concept of peer-to-peer car-sharing, modeled after home-sharing platforms such as Airbnb.
  • Rebranded as Turo in 2015, the company has been growing quickly and hopes to go public soon.
  • As of the end of last year, Turo had over 160,000 active hosts, 320,000 active vehicles, and 2.9 million active guests worldwide.
  • Other players, with various business models, include Getaround and Avail.

Driving the news: Uber Carshare is among a host of features and services the company announced today in London.

  • Among them: discounts and other privileges for hailing an Uber electric car at the airport, and a feature that lets riders see the amount of emissions they're avoiding when they choose a green ride.
  • Uber will also make it easier for drivers to find and plan EV charging along their trips.
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