The Rider Pass subscription plan, which is what the new plan is called, will allow users to access an “industry-first service for peer-to-peer rentals designed to spur growth and motorcycle ridership as the economy rebounds,” the release stated.
The average price for renting a motorcycle via Riders Share is set by the bike’s owner and usually ends up around $100 per day, including insurance. The Rider Pass subscription will take 35 percent off the total price, with the monthly rate for the program sitting at $24, according to the release.
“We believe subscriptions are key to continued growth in peer-to-peer rentals,” said Riders Share CEO Guillermo Cornejo in the release. “There’s an entire market of 20 million-plus ex-riders who are bikeless; our goal with subscription services is to provide an economic re-entry point to stimulate responsible ridership across the country.”
Motorcycles are “notoriously” under-used in the U.S., with an average use four times less than that of cars, according to the release. That puts a significant burden on the cost of a motorcycle trip, with many motorcyclists who ride under 40 days per year spending about $190 per trip.
“Peer-to-peer rentals typically cost up to 70 percent less than brick-and-mortar motorcycle rentals,” Cornejo said in the release. “With our new subscription offering, we’re now able to further reduce this cost, giving people that can’t commit to motorcycle ownership a viable alternative.”
In related news, U.S. car sales saw an increase of 8 percent in the first quarter of 2021, with vaccines as well as a sense of FOMO (fear of missing out) becoming more pervasive and even leading to shortages in stock of vehicles to buy.