Weekly News Wrap Up
Each week we’ll bring you the latest news, information and updates from across the carshare industry. Here’s this week’s news.
Texas Legislature, Prompted by Enterprise, Threatens Turo Hosts
According to an email distributed by Turo, the Texas state legislature is considering a bill (HB 2415) that would threaten the ability of Turo hosts to share their cars in Texas. The bill defines individual Turo host as rental car companies and would inflict unfair taxes on each trip. This bill is being pushed by Enterprise Rent-a-Car with claims of creating a level playing field, while ignoring the $351 million tax exemption enjoyed by rental car companies in Texas each year. Turo is requesting that hosts reach out their legislatures to voice opposition to this bill. (Read More)
Hyrecar Stock Rises More Than 6% as Q1 Sales Rise
Shares of HyreCar Inc. HYRE, +44.57% rallied more than 6% late Thursday after the peer-to-peer car-sharing platform reported a wider quarterly loss but sales came in slightly above expectations. HyreCar said it lost $7.2 million, or 37 cents a share, in the quarter, compared with $4.1 million, or 25 cents a share, in the year-ago period. (Read More)
Nissan Leaf Buyers Awarded With Turo Credits
Sometimes you need more electric-car driving range, or a cure for all the concern about getting from one charging station to another on a road trip. Or you can get by just fine with a compact car 360 days of the year but need a bigger vehicle—and a tow hitch—for the annual week up at the cabin. Nissan is offering a perk to Leaf buyers indicating that they understand how just a bit of flexibility might go a long way. It’s including a $350 Turo credit with the sale or lease of any new Leaf. (Read More)
Oklahoma Bill Creating Framework for Peer-to-Peer Car Sharing Signed by Governor
Oklahoma Gov. Kevin Stitt has signed into law a bill that sets up a regulatory framework for peer-to-peer car sharing. Senate Bill 355, authored by Sen. Paul Rosino R-Oklahoma City, Rep. Lonnie Sims, R-Jenks, and House Majority Floor Leader Jon Echols, R-Oklahoma City, was supported unanimously by both chambers. It will take effect Nov. 1, 2021. (Read More)
With rental prices sky high, car-sharing companies get a boost
A Memorial Day trip to hike and bike at Mississippi Palisades State Park seemed like an easy pandemic getaway — until Autumn Wolfer tried to book a rental car to drive there. Including insurance, some rental car companies wanted as much as $900, she said. So Wolfer, 43, of Chicago’s Ravenswood neighborhood, checked out Turo, a car-sharing company that lets people rent from individuals rather than companies like Hertz and Avis. Renting a 2020 Chevrolet Equinox from someone in Wicker Park cost just $250, she said. (Read More)
Platform Policy Changes
Turo will now consider removing retaliatory reviews.
One of the most frustrating things about hosting a vehicle on Turo is receiving bad reviews simply because you requested reimbursement from the guest. After much prodding from hosts, Turo has now amended their review policy and will consider removing reviews that they can verify were retaliatory for a reimbursement request. (Read More)
To Lease or Not To Lease
If you’re considering leasing a car to host on Turo you probably have a lot of questions about whether or not this is a good idea and how to do it successfully. Check out this premium article for the answers.
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