Regional News

Hyundai invests in peer-to-peer car rental company

By Editor 0 Comments NEWS, Regional News

Hyundai recently announced they are investing in Car Next Door, a startup company from Australia that lets you rent and borrow vehicles from everyday owners. While these owners already can have their cars available on the service, Hyundai will add the Car Next Door service to their Auto Link application later in this year hoping to start saving consumers money.

"Australians will be able to buy a Hyundai car with the potential to rent it out," said Hyundai Motor Company Australia Chief Operating Officer, Scott Grant.

"This capability will be pre-installed and seamlessly integrated into Hyundai’s Auto Link app, making it a simple matter to earn extra funds via Car Next Door’s innovative sharing platform. We think it will be a great feature for Hyundai owners and we are very proud to partner with Car Next Door in this fantastic innovation."

And for people who don't need their cars all the time, it could be a good side hustle. The average earnings of medium-sized cars on the site is around $3000 a year. People with vans are looking at upwards of $7500. It's kind of like Airbnb for cars.

One unique aspect that Hyundai drivers will be able to engage with is key-less driving. The Auto Link app will enable borrowers to both access and fire up the vehicle with their phones — as well as keep an eye on driving habits, monitor the health of the car and provide fault alerts.

At the time of writing, Auto Link is available in the i30 and Kona vehicles and will be in the new Santa Fe SUV and IONIQ hybrid.

I'm far more into this concept than the lockbox system that is currently being utilized by Car Next Door. The idea is that borrowers don't need to meet the owners in order to exchange keys.

Read more here

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