Is the Car Business Putting Itself Out of Business?
Here’s one way to get around the high cost (and hassle) of owning a car… Don’t. Bizarrely, GM – a company that makes cars – thinks it’s time to stop selling cars. Rent them to people instead. By the hour. It is investing in this idea, heavily. The automaker reportedly spent $500 million to buy a controlling stake in Lyft, which is a ride-sharing company like Uber. GM also just announced the ramping up of its own in-house ride-sharing service, an app called Maven. It lets you call up a Chevy Spark, say, for as little as $6 per hour. … Continue reading →
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