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IPFS News Link • Transportation

GM Commits Seppuku

• LewRockwell

Bizarrely, GM – a company that makes cars – thinks it's time to stop selling cars.

Rent them to people instead. By the hour.

It is investing in this idea, heavily.

The automaker reportedly spent $500 million to buy a controlling stake in Lyft, which is a ride-sharing company like Uber.

GM also just announced the ramping up of its own in-house ride-sharing service, an app called Maven.     

It lets you call up a Chevy Spark, say, for as little as $6 per hour. A Cadillac might cost more. But it's cheaper than buying – and much less hassle.

GM owns the car, so you don't have to deal with property taxes or insurance or maintenance. Never have to wash it, or worry about losing your keys. They're not your keys, after all.

GM even pays for the gas.

It's all folded into the hourly cost of the rental.

This is the wave of the future, apparently.