Maven and Holden launch car subscription service

Maven membership is free and consumers can rent a range of Holden vehicles from $225 per week.

Maven has been around since 2017 but has only been available to drivers in the gig economy, like Uber and food delivery services.

In addition to the car rental, users can benefit from unlimited kilometres, 24/7 roadside assistance, scheduled servicing and insurance.

Users are only required to pay for fuel, tolls, fines and any wear and tear deemed ‘unfair’, while insurance is capped at $1,000 for drivers older than 25 and $1,500 for drivers between the minimum eligible age of 21 and 24.

There’s a minimum 28-day rental period when first renting a car, after which members have the flexibility to return the car, rent it on a weekly basis or swap for another Holden model.

There’s also a seven days’ notice required, should members wish to swap or take a break from their rental vehicle.

The service is currently available at Holden dealers in Melbourne, Sydney, Adelaide, Brisbane, the Gold Coast, the Sunshine Coast and Perth.

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Maven targeting small business and millennials

Joanne Stogiannis, General Manager for Maven Australia said the service was in response to growing demand from start-ups and small to medium enterprises (SME’s) looking for mobility solutions to grow with their business.

“SMEs using Maven will enjoy the ease of access, comfort and the peace of mind that comes with the great range of Holden vehicles for their business without the worry of registration, insurance, maintenance and servicing costs,” Ms Stogiannis said.

“Since launching in October 2018 we have continued to grow our suite of flexible products and model range allowing our members to access premium Holden vehicles loaded with the latest connectivity, safety features and technology for a set weekly fee.”

Since launching to gig workers, Maven has more than 6,000 active members, a fleet of more than 2,300 Holden vehicles and an estimated 9 million ridesharing trips in its vehicles.

The service is helping Holden to market to a new customer base; nearly 80% of Maven reservations have been made by millennials.

The car manufacturer said that Millennials value experiences over possessions, with more than three in four of its young user base saying they would prefer to spend money on desirable experiences over buying goods.

Pricing and competition

Maven currently offers seven Holden models for rent; the cheapest is the Holden Trax LTZ for $225 a week while the most expensive is the Holden Trailblazer LTZ and Holden Colorado LTZ, both for $300 a week.

The Colorado LTZ. Source: Holden

Despite its already strong customer base, Maven faces stiff competition in the car subscription industry.

Hyundai announced it was partnering with car subscription service Carly in October, allowing motorists to subscribe to new and used Hyundai vehicles on a flexible basis Australia-wide.

The third-party subscription service currently offers a Commodore RS from $259 a week, with $3,000 insurance excess and usage limited to 1,200 kilometres a month.

While in June, Melbourne based car subscription service Carbar rolled out in Sydney, and announced a partnership with Jaguar Australia in September.

Carbar users can access a car for as little as $119 a week, but swapping cars will cost $150.

Car subscription services are emerging as a real alternative to traditional car ownership, as the costs of running a vehicle rise and new car sales plummet.