Mobility industry expert Graeme Banister has joined Car & Away, the peer-to-peer car-sharing company, as the business prepares for rapid growth.
Car & Away gives car owners a way to make money from their vehicle by offering it for hire when they are not using it.
The business was founded in 2016 by travel industry expert Andy Hibbert, the former chief executive of corporate travel specialists Reed & Mackay, who has also held senior roles at companies including easyJet and STA Travel.
It collaborated with London Gatwick Airport to launch the service in 2017, offering owners an alternative to expensive parking. Instead, owners hire out their car to incoming passengers through Car & Away while they don’t need it.
The business was launched at Gatwick with partners Rentalcars.com, Octo, RAC and Allianz, so vehicles are provided with insurance, breakdown cover and telematics. It is also available at Bristol airport.
Car owners pay a fee for parking, which includes vehicle collection and delivery close to the airport entrance and a valet, while they also keep the majority of rental earnings, which could more than offset the cost of parking. The service has already received hundreds of positive reviews through independent ratings site Trustpilot, which is a key factor in generating loyalty and long-term demand.
Following a £3.5 million investment round, the company is now focused on expansion to other airports, while a broader on-street service is planned in the next year.
Banister (pictured) said: “Car & Away is at a real turning point in its growth so creating sustainable partnerships with companies that enhance the Car & Away proposition is vital at this stage.
“With my background in fleet, leasing and mobility services, this role is exactly the challenge I was looking for and Car & Away is an extremely exciting company to be a part of. Shared assets are better assets and I look forward to working with companies from across the mobility ecosystem to bring the benefits of sharing to as many people as possible.”
Banister previously worked for InMotion Ventures, the mobility venture capital arm of Jaguar Land Rover, on the launch of its Carpe vehicle subscription service.
Hibbert said: “Graeme has actually been our mobility advisor since Car & Away was founded; with his skills and experiences spanning automotive and financial services and with a passion for smarter mobility it’s great to now have Graeme fully on board to help Car & Away achieve its ambitions”.
Car & Away is one of several platforms aimed at allowing car owners to rent out their vehicles when they aren’t being used, including Turo and Drivy.
Automotive is just one sector where companies are unlocking the potential benefits of peer-to-peer rental.
In Chicago, US, a new peer-to-peer digital platform enables businesses to offer their idle industrial machinery for rent to other companies. McPond matches under-utilised equipment with companies that want to avoid the capital cost of acquiring their own assets but need access to machinery.
Its founders say that giving temporary access to industrial manufacturing equipment can cut investment costs or increase production for companies, while asset owners with equipment sitting idle can earn passive income by listing their machines for rent.
Other sites include Farm-r, a platform that allows farmers to share machinery and services through its digital platform, while smartphone-app based MyShed offers a peer-to-peer tool hire service.
