AutoInformed

This is a vastly greater business chance or opportunity than Toyota sharing cars with small numbers of tourists on Okinawa.

Toyota Motor Corporation (TMC), Toyota Financial Services Corporation (TFS), Aioi Nissay Dowa Insurance Co. (Aioi) and Grab, I (Grab), the largest ride-hailing service company in Southeast Asia, will work together to provide ride-hailing services throughout Southeast Asia. It’s just the latest example among many of traditional automobile companies linking with 21^st century firms whose business model in part threatens automaker production and sales models -if not the existence of smaller auto companies.

The stampede to cooperation with car sharing companies began with GM’s acquisition of Lyft – a Uber competitor –  for $500 million in January of 2016. This was a surprising move to some – including other automakers – who were out of touch with what they thought and long derided as a moribund company. However, GM was moving fast post-bankruptcy with a new generation of leaders.  (Lyft and GM Express Drive Expands to Colorado, California*) Global car sharing services revenue will grow from $1.1 billion in 2015 to $6.5 billion in 2024, according to Navigant Research. Continue reading →