Wednesday, October 21, 2015 – 2:30am
Owning a car in Manhattan has traditionally ranked pretty far up the list of pricey personal indulgences (that is, aside from opting to live in New York City in the first place).
But with automakers looking to hang onto market share amid a surge in competition from shared car services, a new category of faux car ownership — on-demand shared cars located inside your own building — could change the economics of driving in busy urban areas.
General Motors is one company pushing into this space through a deal with New York real estate firm Stonehenge Partners, where residents of the 479-unit Ritz Plaza apartment building can purchase access to a fleet of shared SUVs parked in their garage.
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