- Turo is the world’s largest car-sharing marketplace, with over $900M in revenue
- The company aims to help people make better use of the 1.5 billion idle cars that exist around the world
- Turo is helping more people make extra money from their cars, providing an easy-to-use platform as well as insurance protection for peace of mind
Website: https://turo.com/
What is Turo?
Turo is the largest car sharing marketplace in the world. Like the AirBnB of the car world, Turo allows people to book any car they need, and hosts can build successful car sharing businesses. In fact, top UK hosts have made an average of £6,492 every year for each car they list on Turo according to the company’s website, making it a lucrative side-business.
Operating in the US, UK, Canada, Australia, and France, Turo allows people to find and book cars directly from local hosts, helping them avoid the costs of traditional car rental services and offering a wide variety of vehicles to choose from.
Through the platform, users can simply input their dates, find the car that they want and arrange pick up. Given a basic insurance is included in the package, it means both drivers and hosts can have peace of mind that the vehicle is protected.
What Makes Turo Unique?
Turo stands out by helping people find rental cars for different needs and budgets, making it a more flexible option compared to traditional car rental companies.
With a mission to better use the world’s 1.5 billion idle cars, Turo not only gives renters flexible options but also allows hosts to earn money by renting their vehicles. This has allowed thousands of people to transform their unused cars into income-generating assets, helping fuel a better economy.
Aside being good for the wallet, Turo is also incredibly flexible. The platform allows for flexible cancellation, delivery and a range of insurance plans, making it both convenient and secure for drivers and owners alike.
And it seems to be working, the company has scaled fast and boasts 3.2M active renters across 12,000 cities with 350,000 active vehicles on the platform.
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Is There A Market For Car Sharing?
Yes, there is a growing market for car sharing, especially as rail fares continue to rise and more people are looking for reliable and cost-effective transport options.
According to industry reports, the global car sharing market was valued at around $2.9 billion in 2022 and is projected to reach $12 billion by 2027, showing huge growth opportunity.
The cost of living and the rising cost of rail fares mean more people are investing in car sharing and less in their own vehicles. Moreover, with so many strikes facing the rail sector in the UK, cars provide a more reliable transport alternative.
Additionally, with people unable to keep up with the cost of living and purchase their own vehicles, finding a platform that allows you to rent them ad-hoc is a great solution.
Turo has been smart to tap into this market and capitalise on this growing trend of vehicle sharing.
Where Can You Find Turo?
Visit Turo’s website at https://turo.com/ to browse their selection of cars!
