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Why is GM ending its Maven business in 8 US cities?

Why is GM ending its Maven business in 8 US cities?
Asked by
Dan Smith categorie-icon time-icon4 months ago
1 Answer Answer Question

Bryan Reynolds
Answered time-icon4 months ago

General Motors Co. (NYSE: GM) announced its plan to cut down its Maven car-sharing service in several major cities because the company is facing various challenges as it’s trying to grow its new transportation services.

Maven, which was launched back in 2016, will leave 8 of 17 North American cities it’s currently available at during the next few months, a GM representative said.

Even major markets such as Los Angeles, Washington, D.C., Detroit, Toronto and others are among the cities where Maven will end its service.

“We’re shifting Maven’s offerings to concentrate on markets in which we have the strongest current demand and growth potential,” the company stated.

General Motors didn’t want to give any details on why it’s putting an end to Maven in 8 cities. One of the Maven customers from Chicago has received an email which says that the service will stop operating in Chicago by July 26.

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