GM's new Maven brand could replace car ownership for some
General Motors is launching its first new brand in 20 years.
But it's not a car brand.
"Maven" is GM's new personal mobility service.
The new brand is in response to a trend, slight but noticeable and growing, of millennials and urban residents deciding car ownership isn't worth the cost or hassle.
But they still need to get around. Peter Kosack is GM's head of Urban Mobility. He says Maven will give customers easy access to car-sharing and ride-sharing services.
"Consumers can get vehicles by the hour or the day where they want them, how they want them," says Kosack. "This is a product that allows people to have access without the burden of ownership."
GM has also heavily invested in Lyft, Uber's main competitor, and the automaker is developing autonomous cars that will one day be part of on-demand fleets.
Ford Motor Company is also moving into the personal mobility space. The company has launched a pilot projects that allow customers to share their cars with others, and its "FordPass" service aims to help drivers find parking spaces and reserve them in advance.