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Carsales Staff10 Jul 2018
NEWS

Hyundai joins 'Airbnb for cars'

Aussie Hyundai owners will be able to rent out their cars to make extra cash from 2019

Owners of the latest Hyundai i30, Kona, Santa Fe and upcoming IONIQ will soon be able to rent out their cars when they’re not driving them.

Earning their owners extra money when they are idle, the Hyundai cars can be hired out by the hour or the day as part of a new partnership between Hyundai Australia and car-sharing company Car Next Door, which is being dubbed ‘Airbnb for cars’.

From next year, a new version of the inbuilt Hyundai Auto Link app now in development will be able to connect to a smartphone, allowing mobile devices to unlock and operate the cars.

Car Next Door says the average annual earnings of a mid-size car listed for rent is more than $3000, with van owners claimed to rake in upwards of $7500 per year.

When Hyundai's ute arrives in 2021, it’s also likely to be a popular private rental and could generate up to $10,000 a year.

“By the end of 2019, Australians will be able to buy a Hyundai car with the built-in ability to seamlessly and easily rent it out and earn extra money," said Hyundai Australia COO Scott Grant.

"This capability will be pre-installed and integrated into a new version of Hyundai's Auto Link unit, making it a simple matter to earn extra funds via Car Next Door's innovative car-sharing platform."

Focussing on inner-city dwellers and anyone that wants to make cash from their vehicle, car-sharing is still in its infancy in Australia, where only around 200,000 people are part of vehicle-sharing schemes at present.

Companies such as GoGet, Flexicar, Carhood and Car Next Door are pioneers of car-sharing in this country.

But car companies are betting big on the new way to drive and the tradition of the one-car, one-owner philosophy is expected to dwindle.

Ford, GM, Volkswagen, Daimler and almost every other mainstream car-maker owns a car-sharing or ride-hailing subsidiary.

Upstart Chinese car brand Lynk & Co won't even sell its cars. The sister brand to Volvo is shooting for a new, younger demographic by offering leasing and car-sharing options instead.

Holden already has a few hundred customers for its Maven car-sharing scheme in Australia, where owners pay $215 per week for an all-inclusive package (servicing, insurance, roadside assist, etc).

But as a top-three vehicle brand in Australia, Hyundai’s partnership with Car Next Door adds even more weight to the growing car-sharing concept Down Under.

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Written byCarsales Staff
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