Trevo provides new income opportunities through its platform

Admin

PEER-to-peer (P2P) car sharing platform, Trevo is encouraging those who are greatly affected due to the Covid-19 pandemic to join its business model to gain some extra income.

 

Trevo general manager Susan Teoh said the company understands the importance of being able to access new income opportunities, especially now when there is so much economic uncertainty caused by the pandemic.

 

“Our business model is for those who are looking for ways to supplement their income or perhaps looking for flexible means to make money as well as defray ownership costs for assets like vehicles.

 

Trevo general manager Susan Teoh

 

“By reducing information asymmetries and by cutting down search and transaction costs, we make it seamless for ‘Hosts’ (Trevo’s term for vehicle owners) to seek suitable ‘Guests’ (Trevo’s term for drivers) for their listed vehicles.

 

“For example, if I have an additional car at home that is not being utilised, I can simply register myself as a Host through Trevo app and select the dates on which the car will be available for reservation.

 

“If my car gets booked during those dates, I will be generating additional income.

 

“Meanwhile, if I do not have a car of my own and would require one, I could simply get on the Trevo app too and book a car of my choice from a Host. It’s that simple,” Teoh said in her statement to Buletin Mutiara.

 

Trevo is an app-based P2P car-sharing marketplace where drivers (guests) can contact car owners (hosts) to rent their cars for a specified period of time.

 

It has been operational since October 2019 and is a fully-owned subsidiary of Socar Mobility Malaysia Sdn Bhd (Socar), while Socar itself is 60% owned by SK Holdings Co Ltd which is part of South Korean conglomerate SK Group. The remaining 40% are owned by Socar Korea.

 

Trevo is available for download at Google Play and the App Store.

 

Teoh added that as for vehicle owners (hosts), they are able to generate an income of more than RM5,000 per month.

 

“As an example, the income car-culator available on the Trevo website estimates that you can earn up to RM5,430 per month with a Perodua Myvi (the year 2015 model) if the car is booked for 10 days in a month.

 

“Luxury cars such as BMW 740 Le from the year 2019, on the other hand, can earn you about RM16,970 per month.

 

“The hosts also can choose their own pricing provided it falls within the pricing band that the Trevo algorithm provides.

 

“Corporate hosts such as car rental companies can also list their fleet on Trevo as well,” she said.

 

To become a host or a driver, Teoh said they just need to first sign up via the mobile app and just follow the instructions given.

 

“Currently, we have 10,000 users signing up and we hope to continue seeing a growing number of users for our app especially as we continue to increase the range of vehicles on our platform and expand to more geographies.

 

“As for the number of Trevo Hosts on our app, we do not classify our users as exclusively Hosts or Guests as a Host can become a Guest anytime and vice versa.

 

“We also have hundreds of cars available for sharing on our platform, including premium cars such as Porsche Cayman and the BMW to more economical cars such as Perodua Myvi, Perodua Bezza and Perodua Axia,” she added.

 

According to Teoh, the movement control order (MCO) was a challenging period for Trevo as people stayed home and did not see the need to move around as much.

 

“But as we move into the recovery movement control order (RMCO) phase, we are already seeing positive signs of recovery as more people seek to make their long-postponed journeys.

 

“Now that the interstate travel restriction has been eased, we expect more Hosts to come onboard.

 

“So, the goal for now in the RMCO phase is to help as many Malaysians as we can to gain some additional income by being a Host on our platform.

 

“And for those who do not have their own car, they can be a Guest on our platform and book their preferred cars depending on their preference, for a minimum of 24 hours, whenever they need a car.

 

“Thus, we are optimistic about Trevo’s growth in the upcoming months simply because of the benefits that it can bring to Malaysians,” she said.

 

Story by Riadz Akmal
Pix courtesy of Trevo