The new P2P car-sharing app will host car owners who want to hire out their cars to earn income from their asset
By S BIRRUNTHA / Pic By RAZAK GHAZALI
CAR-SHARING platform Socar Malaysia has introduced Trevo — a new people-to-people (P2P) car-sharing marketplace — to attract users who could not bear the financial burden that comes with owning a car.
The app will host car owners who want to hire out their cars to earn income from their asset.
The app-based marketplace enables the public to book any car that fits their requirement from the nearest car owners (hosts) in the community.
The rate of car ownership in Malaysia is among the highest in the region, with 93% of households owning at least one car, Socar Mobility Malaysia Sdn Bhd CEO Leon Foong emphasised.
“With Trevo, we are showing our commitment to the multiflex ecosystem by allowing a new segment of users who want to make money from sharing their cars when they are not using them and alleviate the financial burden of servicing a hefty monthly auto loan instalment.
“For our customers, we hope to be able to curate the best-in-class vehicles in terms of selection and quality at very attractive prices,” he said at the official launch of Trevo in Kuala Lumpur yesterday.
Foong added that Trevo is different from Socar in the sense it targets the underutilised assets in the market and will help drive people forward in achieving their financial and lifestyle goals.
Users on Trevo can have access to a car when needed, instead of committing to full ownership.
Car owners and potential renters can get their registration and verification process done within 24 hours by just downloading the app and signing up with their necessary details.
Drivers can rent a car from as low as RM55 per day for a Perodua Myvi or treat themselves to a luxury experience with a Rolls Royce, if requested.
Trevo GM Susan Teoh said with the launch of Trevo in Malaysia, Socar is able to provide more mobility choices to help people fulfil their travel plans.
“We conduct community workshops to help hosts optimise the value of car ownership. At the end of the day, we want to create a community of like-minded people who share a goal to improve mobility, contribute to less carbon emissions and enable a better environment for humanity,” she said.
Through Trevo, hosts can earn an income to help cover their monthly car instalments, as long as they share their cars for at least six to eight days a month.
Hosts are empowered to choose their own pricing, as long as it falls within the pricing band Trevo’s algorithm provides.
Car renters on Trevo are protected with 24/7 Roadside Assistance and covered by the Super Collision Damage Waiver that limits how much they would pay for damage repairs in case of accidents.
The hosts are protected with Trevo Shield which offers up to RM3 million in liability protection.
Alternatively, hosts can also opt for a basic coverage package and Trevo Track which is a high accuracy location tracking service.
At present, there are in excess of 300 cars available for booking with most hosts located in the Klang Valley. Trevo expects to expand its business to more regions this year.
Currently, there are around 20,000 people registered as users on Trevo and over 1,000 bookings have been made on the app since it went live on Oct 14, 2019, according to Foong.