GM allowing owners to rent out vehicles via Maven app

July 24 (UPI) -- General Motors announced Tuesday it's getting into the peer-to-peer car sharing program, which will allow owners to make money by renting out their vehicles through the Maven app.

The move will add a new revenue stream for the automaker. It will allow those who own or lease a 2015 or newer GM vehicle to add it to the Maven app.

Maven members can rent cars by the hour, the day, the week or the month.

"Your car is one of the most expensive things you own. Sitting idle, it is a wasted asset," said Julia Steyn, vice president of GM Urban Mobility and Maven. "It's time to put your car to work. Maven's peer-to-peer offering is a smart way for owners to offset their vehicle investment."

GM said those who rent their vehicles will keep 60 percent of the income. The automaker takes the other 40 percent, but will provide insurance for the rentals.

An experimental beta version of the service is now available in Chicago, Detroit and Ann Arbor, Mich. GM said more markets will follow this fall.