There is no doubt that Malaysia is amongst the highest in the region with 93% of household owning at least one car whereas 54% is the households that own multiple cars. That said, car-sharing platform SOCAR Malaysia has introduced Trevo, its latest people-to-people car sharing marketplace that helps car owners to gain income from their own assets.
As an app-based marketplace, TREVO has opened up an opportunity for the car hosts to make money from sharing their cars when it is not in use. In a way, this would help them earn extra and enough money on the side to pay off their monthly car loan instalment. TREVO is operated by Future Mobility Solutions Sdn Bhd, a fully-owned subsidiary of SOCAR Mobility Malaysia Sdn Bhd. SOCAR is currently 60% owned by SK Holdings while the remaining 40% is owned by SOCAR Korea.
With this latest people-to-people car-sharing marketplace, users would be able to fulfil both of their car and travel dreams by just registering as a guest on TREVO.
They can now loan a car from as low as RM55 per day for a Perodua Myvi or treat themselves to a luxury experience by loaning a Rolls Royce for a day of pampering.
With the growth of car ownership in the country, by listing their car on TREVO — car hosts can now easily cover their monthly car instalments as long as they share their cars for at least 6-8 days a month. Hosts are able to place their own pricing as long as it falls within the band that the TREVO algorithm provides.
In the case of accidents for which the car guests are responsible, they will be covered by the Super Collision Damage waiver that which limits the amount they would need to pay for damage repairs. Whereas the hosts are protected with TREVO Shield with up to RM3 million in liability protection.
Currently, there are in excess of 300 cars available for booking with around 20,000 people registered as guests and most hosts are situated in the Klang Valley.
Pictures by TREVO