Uber Debuts Carshare Service in Sustainability Push; Boston and Toronto Get First Dibs

As part of its sustainability initiatives, Uber Technologies, Inc. is stepping into the car rental market with the launch of its Carshare service. Initially, Boston and Toronto will be the first cities to experience this new venture, allowing car owners to monetize their vehicles by renting them out.

Uber said it is set to roll out the Uber Carshare service option in Boston and Toronto. There are plans to expand this new business to other regions later.

As per Fox Business, through the rental option being offered by the ride-hailing and food delivery giant, vehicle owners may earn extra cash. Owners can now rent out their cars to neighbors or other people who need the service, and this was confirmed by Uber on Thursday, June 8.

This is a peer-to-peer Carshare that will allow people to register their vehicles on the platform and rent them out to the locals. Customers may choose between hourly and daily rates to pay their car rental fee.

"For years, Uber has made it effortless to tap a button and get a ride on demand," Uber's general manager of US and Canada mobility, Camiel Irving, said in a statement. "Now, we are taking the same approach with carsharing by making it simple, affordable, and sustainable for you to borrow and list cars in your neighborhood."

She added, "We believe that Uber has an unprecedented ability to bring carsharing to the mainstream unlike any other company in the market today and we're excited to launch this offering soon."

Finally, USA Today reported that customers who want to rent vehicles may pick up and return the units through Uber's official app. The availability of the cars for rent will be listed by their owner 15 minutes in advance. Moreover, there is no rule on how early customers should book their rides, so availing of the cars is hassle-free and may be done at any time.

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