In the early 2010s, e-hailing took Malaysia by storm. Many believe it was a fad at the time that would come and go just as fast. However, the government’s decision to legalise the revolutionary system several years ago was certainly a real game changer.
Fast forward to 2020, the e-hailing market is completely saturated with a variety of players. Companies like Grab, which began as a humble taxi-based e-hailing app, have grown to be household names. Some might even think that e-hailing is the peak of the transportation industry and that Malaysia’s market has no more room to innovate. However, the rise of car-sharing has proven this statement wrong.
Gaining popularity several years after the debut of e-hailing services, the value and comfort offered by car-sharing is unquestionable. E-hailing in Malaysia is still very convenient, but thanks to Malaysians’ preferred commuting style being to drive their own car as well as a car ownership rate of over 90 percent, the potential for car-sharing services to grow and thrive is immense.
Over the past several years, we have seen more and more car-sharing services enter the market. Names such as SOCAR, Moovby, and GoCar, have all made headways in the Malaysia ecosystem; each bringing with them a unique spin that sets them apart from one another.
Even now, these car-sharing services are devising new ways and options of serving Malaysian drivers with more options and value. For example, TREVO, an innovative peer-to-peer car sharing marketplace was just officially launched on 25 February 2020 by SOCAR Malaysia and offers many car rental options offered by car owners at affordable prices.
Car-sharing is still arguably a new phenomenon, but is rapidly catching on in the country; no doubt gaining popularity among millennials since many of them cannot afford to own a car because of the rising cost of living, or who are too environmentally conscious to do so.
The benefits of car-sharing could very well lead to a fundamental change in the Malaysian lifestyle. Car-sharing is the most ideal choice for those who want the freedom of driving without the burden of a car loan. However, for those who choose to own their own car, this service could also help them with the loan.