How a Turo Car Share Broke This Family's Vacation Budget
There's a huge rental car shortage that's disrupting vacations. And travelers, who are desperate for a rental car, are finding new ways to get one, like using a car sharing app. But our I-Team learned one popular car share app could blow up your budget. (Read More)
Turo is Saving Vacations During the 2021 Rental Car-pacolypse
Rental cars are becoming scarce thanks to the COVID-19 pandemic. Turo, a peer-to-peer car sharing company based in San Fransisco, is helping to save your vacation by changing the game. (Watch Video)
WKND and Getaround Team Up to Make Local Getaways More Accessible
WKND®, the on-demand “retreats-as-a-service” platform for millennials and Gen Z, and Getaround®, the world’s premier digital carsharing marketplace, announced today that they are collaborating to empower modern nomads who are eligible to drive a shared car on Getaround to instantly access and drive available cars nearby. (Read More)
Kaua‘i County mulls tax on Turo providers
The state Department of Taxation told taxpayers using “peer-to-peer car-sharing apps” to obtain the proper registrations and a general excise tax license before starting a business, in an Aug. 10 announcement. (Read More)
Suburban Detroiter's Mini-Fleet Steers Into New Niche Amid Rental Car Shortages
Bill Huffhine of Rochester Hills found a ride-sharing business opportunity that doesn't involve driving for Lyft or Uber. He rents cars to drivers seeking alternatives to soaring prices from big chains in that industry, slammed by a vehicle shortage. (Read More)
Last Week’s Headlines
Rental car shortage hits Canada as border restrictions loosen
If you're looking to book a rental car over the next couple of weekends, you'll likely find them sold out. The same rental car shortage that drove up prices in the U.S. earlier this year has now hit Canada. As pandemic restrictions loosen and the border opens to Americans, there is more competition for rental cars this summer vacation season. (Read More)
Car-sharing marketplace Turo secretly submits US IPO
Car-sharing market Turo Inc sought to take advantage of the country’s ferocious capital markets by secretly filing with regulators on Monday for an initial public offering in the United States. The company’s platform allows car owners in 5,500 cities in the United States, Canada and the United Kingdom to rent cars. From pickup trucks and minivans to luxury cars such as Lamborghini, Rolls-Royce and Porsche, there are more than 450,000 listed cars. (Read More)
Tesla Model S Plaid Turo Rental Races 900HP McLaren 600LT
As you can see from the video above, Parker says Brooks rented a brand-new Tesla Model S Plaid from Turo. Since Parker hasn't yet driven, much less even seen the Plaid in the flesh, he jumps at the opportunity to check it out. Parker is driving a 900-horsepower McLaren 600LT, making comments like, "You certainly can't do that in a Tesla Plaid." Perhaps he's talking about the deafening noises coming out of the McLaren inside of a tunnel? (Read More)
Kokua Line: Can I store peer-to-peer rental cars on a public, residential street?
Kokua Line has received numerous complaints about peer-to-peer car rentals that move a business transaction from a central commercial location, usually near an airport, to wherever the owner has parked the car for pickup. Oft-mentioned is Turo, an online platform that allows individuals to rent out their vehicles, similar to the way Airbnb allows people to rent out their homes. (Read More)
Lack of rental cars has triggered a boom in peer-to-peer car sharing
In the Atlanta and Chicago areas, car-sharing hosts have a similar story. Atlanta’s Turo host, Tatiana Pisarski, said she has rental requests 2-3 times a week. She said she had more reservations this year than the last three years combined. In June, she is confident enough to order a Tesla Cybertruck and will rent it when it is finally delivered by the dealer. (Read More)
Car Rental Industry Rebounds As the Economy Rockets Out of the Pandemic
Hertz went bankrupt last June at the peak of the pandemic, weighed down by nearly $19 billion in debt and roughly 700,000 cars parked with no one to drive them. This May, it reached a deal with private equity firms to pull itself out of bankruptcy, rewarding the individual investors who made the company the OG meme stock. (Read More).
Car-sharing startup resumes operations at Salt Lake City airport
After hitting a major roadblock at the Salt Lake City International Airport, the Avail car-sharing app is back in business. Avail views itself as a tech platform, facilitating car owners who are flying out of state to link up with incoming travelers who want to borrow a set of wheels. The airport, however, considered Avail a car rental company and wanted to charge it the same 10% of gross revenues fee it charges other off-site rental companies. When Avail declined to sign such a contract, the airport required its partnering parking lot, the Parking Spot, to stop working with the company in late May. (Read More)