Results for tag: "P2P Carsharing"

Peer-to-peer (P2P) carsharing is an economic model within the automotive industry that allows individuals to rent out their private vehicles to others for short periods of time. This market is facilitated by digital platforms that connect vehicle owners with potential renters, ensuring a secure transaction process. P2P carsharing serves as an alternative to traditional car rental services and ownership models, offering a more decentralized approach. It provides benefits such as increased accessibility to vehicles for those who do not own a car, potential income for vehicle owners, and the efficient use of resources by reducing the idle time of cars. In this system, car owners list their vehicles on a dedicated application or website, specifying the availability and rental terms. Users in need of a vehicle can browse the platform, select a car that suits their needs, and arrange for pickup or delivery. Transactions usually include insurance coverage, and the platforms typically facilitate communication, payment, and reputation management through user ratings and reviews. Several companies have established a presence in the P2P carsharing market. Turo, a prominent player, enables car owners to rent out their vehicles when they are not in use. Getaround offers a similar service with the added convenience of an in-car technology that allows for keyless entry. Drivy, which operates mainly in Europe, provides a platform for users to hire cars from their neighbors. Meanwhile, HiyaCar and easyCar Club are other examples of companies that enable owners to monetize their idle cars while providing renters with an array Show Less Read more