Updates include limitless search to make
finding and renting the perfect car easier than ever, and new host
services designed to help entrepreneurs scale their businesses on
Turo
SAN
FRANCISCO, June 26, 2024 /PRNewswire/ -- Turo,
the world's largest peer-to-peer car sharing marketplace, today
announced over 70 key product updates that further strengthen the
company's position as the car sharing leader, as it works to
penetrate a massive $172B total
addressable market. One key update puts the company's extraordinary
selection of over 1,600 unique makes and models front and center,
thanks to limitless search, an innovative feature that lets
customers browse all of Turo's available vehicles without dates or
locations. The ability to freely browse vehicles — from exotic
vehicles to the latest models — is the first of its kind in the car
rental or car sharing space.
The company also unveiled several features to empower its hosts,
or the entrepreneurs supplying the cars on the platform, to build
evermore sophisticated businesses. This includes Turo Host
Services, a hub where hosts can access custom-built services, like
vehicle financing and insurance, to help fuel their growth.
"Travel is increasingly expensive, and people crave change. The
status quo of the last 60+ years of Big Rental has yielded a
common, commodified experience that is devoid of innovation," said
Turo CEO Andre Haddad. "Turo is the
new way of thinking about car travel. It's a way to drive your
dream car, or test drive a car before you drop $50k on it, or find the perfect car that checks
all the boxes for your family vacation."
Starting today, finding and renting the perfect car has never
been easier with the launch of a completely new way to browse cars
on Turo. Specific features of this reimagined browsing
experience include limitless search, sharable favorites lists,
personalized content leveraging machine learning models, and
expertly curated Collections that empower guests to get inspired
and rent the exact car they want anytime for any occasion.
This suite of updates marks a major departure from the traditional
rental car experience — where browsing is generally confined to
categories such as "midsize," "compact," or "standard" — and
specific makes and models, let alone trim and extras, are seldom
guaranteed.
Sharable favorites lists allow everyone, from car enthusiasts to
try-before-you-buy shoppers and trip planners, to create and share
bespoke lists of Turo's unique inventory. For more curated
inspiration, the company is also rolling out Collections throughout
the summer, so guests can select the perfect car to suit their
summer vibe. Examples of Collections include Sensational
Supercars, Electric Elite, Vintage
Americana and Rugged 4X4s.
Turo has also launched several other features to enhance
the guest experience, including:
- Pay Later, offering guests the option to pay
$0 at time of booking, empowering
them to plan their trips with greater flexibility and
convenience.
- Book Instantly as the standard for all trips, which
removes the need to request and wait for a host to approve a trip,
making the process of renting a car more convenient and
reliable.
Turo Host Services was also introduced today to help address the
biggest scaling challenges hosts face: financing and
insurance. Turo is working with lending partners to increase
access to vehicle financing for hosts, and offering a reimagined
insurance product built by a trusted partner to keep hosts'
vehicles insured while they aren't on a Turo trip and reduce
overhead costs. These solutions mark an expansion of services that
help hosts grow their businesses, while also supporting the
creation of new, high margin revenue streams. In addition to
existing data, automation, and co-hosting services, financing and
insurance are the latest offerings in Turo's suite of services that
will continue to help hosts launch, manage, and scale their
businesses.
Turo has also launched new features to help hosts grow their
businesses, including:
- Additional functionality for Hosting Teams, allowing
hosts to invite co-hosts to manage pricing, availability, and trip
details. This update provides a more streamlined experience for
hosts to collaborate and delegate, while keeping sensitive
information private and maintaining Turo's commitment to
safety.
- A new passive income hosting program, the first of its
kind in car sharing in the US, inviting busy vehicle owners who
don't have time to become hosts themselves to join the Turo
community by partnering with seasoned Turo hosts interested in
managing more vehicles. The program empowers vehicle owners to
passively transform their depreciating assets into revenue
generators, and hosts to expand their fleets without upfront
capital — a perfect pairing that creates a win-win for car owners
and our entrepreneurial hosts.
"The cost of car ownership and its outsized effect on the CPI
speaks for itself. Our hosts need a reliable platform to build
evermore sophisticated businesses and create exceptional
experiences for their guests," says Haddad. "I'm super excited
about the launch of Turo Host Services because our hosts are
creative innovators, and when we give them the tools, services, and
guidance they need, they deliver. To date, Turo hosts have earned
over $4 billion on the platform, and
I believe there's so much more economic value to be unlocked
looking ahead."
About Turo
Turo is the world's largest car sharing
marketplace, where you can rent the perfect car for wherever you're
going from a vibrant community of trusted hosts across the US, UK,
Canada, Australia, and France. Flying in from afar or looking for a
car down the street, searching for a rugged truck or something
smooth and swanky, you can skip the rental car counter and choose
from an extraordinary, totally unique selection of nearby vehicles
shared by local hosts. Entrepreneurs can take the wheel of their
futures by becoming hosts and building car sharing businesses on
Turo, leveraging our established platform to scale their businesses
to meet their goals.
With an unwavering mission of putting the world's 1.5 billion
cars to better use, Turo unlocks the hidden value in idle and
underutilized assets, empowering anyone to get in the driver's
seat. Find your drive® — Turo.
To learn more about Turo, please visit www.turo.com.
Media Contact:
press@turo.com
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SOURCE Turo Inc.