Car sharing provider, SoCar Malaysia has just introduced a new peer-to-peer platform called Trevo. Not only it allows the car-sharing community more vehicle options, but existing car owners can also earn additional income by renting their car out.
Trevo is operated by Future Mobility Solutions Sdn Bhd, which is a fully-owned subsidiary of SoCar Mobility Malaysia Sdn Bhd. SoCar is currently 60% owned by SK Holdings while the remaining 40% is owned by SoCar Korea.
According to Trevo, car ownership in Malaysia is amongst the highest in the region with 93% of households owning at least one car and 54% of households own multiple cars. They added that with real wage growth slowing down, car ownership is becoming a financial burden. With Trevo, car owners can alleviate their financial burden by making money from sharing their vehicles when it is not in use.
For members that are interested in renting a car, they offer a wide range of vehicles from a Perodua Bezza at RM35/day to luxury vehicles such as a Rolls Royce Ghost at RM6,000/day. You can find different vehicle types such as sedans, pickups, SUVs, MPVs and coupes.
For hosts, Trevo says that you can cover your car’s monthly instalment by sharing the car for at least 6-8 days per month. Hosts are given the flexibility to choose their own pricing as long as it falls within the recommended pricing band that’s suggested by Trevo’s algorithm. Trevo also allows corporate listing from commercial car rental companies as well.