GM to end Maven car-sharing business in about half its markets

GM to end Maven car-sharing business in about half its markets

May 20, 2019

General Motors Co. plans to wind down its Maven car-sharing service in more than a half-dozen cities, the latest car company to encounter challenges as it works to expand new transportation ventures.

Maven, a car-sharing brand launched in 2016 by GM GM, -0.08% , will end service in eight of the 17 North American cities it currently operates in within the next few months, a GM spokeswoman said.

The cities where it plans to terminate business include major markets, such as Chicago and Boston. Maven will continue to operate in Los Angeles, Washington, D.C., Detroit, Toronto and other cities, she said, declining to provide a full list of closures.

“We’re shifting Maven’s offerings to concentrate on markets in which we have the strongest current demand and growth potential,” the company said in a statement. GM declined to elaborate on the specific reasons why it was ending service in the eight markets. An email sent to one Maven customer in Chicago said the service would wind down there by July 26.

An expanded version of this report appears on WSJ.com.

Also popular on WSJ.com:

‘Playing catch-up in the game of life.’ Millennials approach middle age in crisis.

New Chrysler Ram pickup is closing in on GM and Ford.

Source: Read Full Article