Chicago and Boston, though GM didn't release the full list of cities it'll cut. The automaker said that it"plans to focus on markets that have the strongest demand and growth potential," such as Detroit, Los Angeles, and Toronto.GM's troubles with Maven make it thesecond US automaker to run into troubles with its mobility ventures, which suggests a troubling trend is emerging.
The market for car-sharing services like Maven remains tiny relative to ride hailing. Global car-sharing revenues hit $2 billion in 2016 and will grow to $5 billion in 2030, according to AlixPartners estimatesThe Wall Street Journal. In comparison, AlixPartners estimates that global ride-hailing revenues hit $36 billion in 2016 and will balloon to almost $300 billion in 2030.
to spend $4 billion on AVs through 2023. For automakers that are allocating — and in many cases losing — billions of dollars developing electric and self-driving cars, large-scale mobility initiatives might not be a viable use of resources.Automakers' mobility stumbles are prompting them to hone and consolidate their mobility efforts. When Ford shut down Chariot, it emphasized that it wasn't abandoning mobility services altogether.