Photo: Volvo
The seemingly ever-growing car-sharing market is drawing more and more investments from the global carmakers.
Volvo is one of the companies that first saw the potential of a market where customers do not own cars, but rent them for short periods of time.
In 1998, together with rental company Hertz, Volvo created Sunfleet, a service that today operates in more than 50 cities in Sweden. Sunfleet now comprises 1,700 cars and reports each year 500,000 transactions.
Building on Sunfleet’s experience, Volvo announced last week the creation of what it calls a new mobility brand: M.
In essence, M is, for now, nothing but an intuitive app that would provide car-sharing customers access to cars and services. As of 2019, M will integrate Sunfleet, providing customers with an app that learns the user’s needs, preferences and habits.
It’s unlikely the new mobility brand will be just an app, but unfortunately Volvo did not release additional details about M. Further updates in the months ahead are likely.
“The services currently available mainly offer alternatives to a taxi or public transit. We’re focused on the way people use the cars they own, which sets us apart,” said in a statement Bodil Eriksson, CEO of Volvo Car Mobility.
“We aim to provide a real alternative to that experience. It should enable us to live life on our terms, getting things done and maximizing precious time.”
Globally, the battle for the mobility market is being led by Daimler and BMW, through their newly-created joint venture.
At the end of June, Daimler said that it’s mobility services alone numbered 23 million clients in May 2018, an increase of 88 percent compared to the number posted for the same period of last year.
By 2024, the global car sharing market size is expected to grow to over $1.1 billion, according to a research report by Global Market Insights.
In 1998, together with rental company Hertz, Volvo created Sunfleet, a service that today operates in more than 50 cities in Sweden. Sunfleet now comprises 1,700 cars and reports each year 500,000 transactions.
Building on Sunfleet’s experience, Volvo announced last week the creation of what it calls a new mobility brand: M.
In essence, M is, for now, nothing but an intuitive app that would provide car-sharing customers access to cars and services. As of 2019, M will integrate Sunfleet, providing customers with an app that learns the user’s needs, preferences and habits.
It’s unlikely the new mobility brand will be just an app, but unfortunately Volvo did not release additional details about M. Further updates in the months ahead are likely.
“The services currently available mainly offer alternatives to a taxi or public transit. We’re focused on the way people use the cars they own, which sets us apart,” said in a statement Bodil Eriksson, CEO of Volvo Car Mobility.
“We aim to provide a real alternative to that experience. It should enable us to live life on our terms, getting things done and maximizing precious time.”
Globally, the battle for the mobility market is being led by Daimler and BMW, through their newly-created joint venture.
At the end of June, Daimler said that it’s mobility services alone numbered 23 million clients in May 2018, an increase of 88 percent compared to the number posted for the same period of last year.
By 2024, the global car sharing market size is expected to grow to over $1.1 billion, according to a research report by Global Market Insights.
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