Markets in Everything: Peer-to-Peer GM Carsharing

DETROIT – "General Motors and RelayRides, the world’s first peer-to-peer carsharing marketplace, today announced an exclusive relationship that will allow millions of GM vehicle owners to leverage the OnStar system to rent out their idle cars through the RelayRides marketplace.

The program, which will launch in early 2012, is GM’s first large-scale involvement in carsharing and is aimed at making it easier for those without a vehicle to access temporary, affordable and reliable transportation in a Chevrolet, Buick, GMC or Cadillac.

RelayRides allows vehicle owners to choose to rent out their idle vehicles, with the owner controlling the rates and availability of the car. RelayRides provides an online marketplace and a $1 million insurance policy to make the transaction safe and convenient. Through innovative technology integration, RelayRides will leverage OnStar to allow RelayRides borrowers to unlock GM cars with their mobile phones. For vehicles that are not OnStar enabled, RelayRides must install a small device in the car to provide convenient access to borrowers. The integration makes all eligible OnStar vehicles immediately “RelayRides ready” without having to install additional hardware."