TREVO Sees Growth In P2P Car Sharing Concept
TREVO, the leading peer-to-peer (P2P) car sharing marketplace in Malaysia, sees growth in this concept as it heads into 2023. In 2022, TREVO had recorded a sixfold increase in the number of trips booked via its application. That is an average of over 1,800 trips monthly, compared to 300 monthly trips during the pandemic period when travel restrictions affected demand. This situation turned for the positive once Malaysians were allowed to travel freely domestically.
The increase is also aided by the increased willingness of car owners to list their cars for rental on the TREVO platform. By the end of 2022, TREVO recorded total listing of over 6,000 cars, up from 4,000 cars in 2021. TREVO continues to drive the appeal and relevance of a shared economy among car owners and drivers. More Malaysians now know about the car-sharing model as a mobility solution, allowing TREVO to expand to new areas in the country.
Furthermore, it is offering new services such as Buddy Driver which allows TREVO Guests to book a driver on demand. The company saw significant growth in this, with over 10,000 bookings completed across 2022 since Malaysia entered the endemic phase.
“The existence of TREVO, which offers multi-pronged benefits to Malaysians, from offering a source of additional financial sustainability when they list their cars for booking to offering flexible mobility for drivers who only want access to a car on limited occasions, without hidden charges, is clearly welcome among Malaysians, looking at the growth in the number of bookings and listings across 2022. We have also addressed the concerns of potential Hosts by introducing TREVO Shield insurance coverage specially designed to protect car-sharing Hosts as well as Guests. To better support our TREVO community, we also introduced services like Buddy Driver and education-oriented features like TREVO University, to continuously improve the experience of TREVO users in Malaysia,” said Susan Teoh, General Manager of TREVO Malaysia.
Expanding its coverage area to Seremban in March and Langkawi in May 2022, TREVO targets continued expansion to increase its customer base across Malaysian cities. To further drive usage, the company will continue to offer special promotions during festive seasons and special occasions to ensure that the mobility needs of Malaysians can be better served.
“Looking ahead into 2023, we are confident of our ability to extend our growth momentum in the coming year, in line with our business roadmap and mapped trajectory. Initiatives to improve customer experiences continue to be a priority into 2023, where we are focused on further optimising the TREVO app to provide a better user journey for our customer base. While the Malaysian economy shows promising signs of growth, we will continue our efforts to build the sharing economy, empowering more Malaysians to benefit and increasing their disposable income through renting out underutilised vehicles,” Susan concluded.
To learn more about TREVO, visit https://trevo.my/