logo
Plus   Neg
Share
Email

WSJ : GM Plans To Wind Down Car-sharing Service In Eight North American Cities

General Motors Co. (GM) plans to wind down its Maven car-sharing service in several major North American cities in the next few months, the Wall Street Journal reported.

"We're shifting Maven's offerings to concentrate on markets in which we have the strongest current demand and growth potential," GM reportedly said.

The Journal reported that Maven, a car-sharing brand launched in 2016 by GM, will end its service in eight of the 17 cities in which it currently operates, including Chicago and Boston. But, Maven will continue to operate in Los Angeles, Washington, D.C., Detroit, Toronto and other cities.

The report said that GM neither provided a full list of closures nor the specific reasons why it is ending service in the eight markets.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Facebook on Thursday shared an update on its $100 million small-business grants program announced in March, saying that it will provide $40 million in grants to 10,000 U.S. small businesses that were impacted by the coronavirus pandemic. In March, the social media giant said it is offering $100 million in cash grants and ad credits for up to 30,000 eligible small businesses. The Walt Disney Co., which temporarily closed Disney parks and resorts and halted media operations, plans to furlough some of its employees in the United States starting April 19. Multiple reports said the furlough will affect employees whose jobs aren't necessary at this time amid the surge in coronavirus or Covid-19 pandemic. The National Retail Federation Chief Economist Jack Kleinhenz stated that while the coronavirus pandemic "has triggered shocks", the underlying U.S. economy is sound unlike during the Great Recession of 2007-2009. However, Kleinhenz noted that bringing the virus under control was crucial or else the fallout would be worse. Kleinhenz also said that retail foot traffic is "nearly nonexistent".
Follow RTT
>