BMW Announces Car and Ride Sharing Lease

A new program will allow BMW customers to earn additional income by renting their leased vehicles, or driving for ride-sharing companies. It’s been launched in California, Washington, and Oregon, with hopes to reach even more cities in coming months.

Photo Source: BMW Blog

DriveNow, previously a joint venture of BMW and Sixt SE, is a car-sharing service currently available to more than one million customers in 13 European cities. BMW will now take full ownership by acquiring Sixt’s stake in the company, giving BMW more options for mobility services in the future.

BMW’s current vehicle sharing program, ReachNow, already serves more than 75,000 members in New York, Oregon, and Seattle. Members have on-demand access to more than 1,300 BMW vehicles in their surrounding neighborhoods without needing to visit a rental car provider or return the vehicle to a specific location.

“We are very excited to provide an industry-leading, customer-centric approach to mobility services that will allow our customers the ultimate in flexible utilization over the life of their contract with BMW Group Financial Services,” said Ian Smith, CEO of BMW Financial Services Group, Region Americas. “As a company we are committed to delivering a simple and transparent solution that optimizes our already premium customer experience.”

This acquisition is paving the way to compete with other popular car-sharing services such as Uber and Lyft, as well as offer services that pinpoint all aspects of driving, such as renting a car or finding a place to park (per its recent buyout of the Parkmobile app).

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Categories: News
Tags: BMA, DriveNow