A peer-to-peer automobile sharing website called Turo, formerly RelayRides, enables users to let other drivers use their vehicles for a fee. Shelby Clark established the business in 2009, and since then it has developed into a well-liked substitute for standard car rental services. In the United States, Canada, and the United Kingdom, Turo operates in over 5,500 cities. But who is Turo’s owner? Let’s get started.
The business is privately held, and funding has come from a number of sources, including Shasta Ventures, August Capital, and Kleiner Perkins. However, Daimler AG, the parent firm of Mercedes-Benz, has provided the majority of Turo’s finance. In 2017, Daimler AG invested $92 million in Turo, and the two businesses have subsequently worked together on a number of projects.
The short answer is that yes, people are generating money via Turo. Renting out your car to other drivers on Turo is a way for car owners to make money. The amount of money that can be made varies based on the location, demand, and the make and model of the car. Some Turo hosts are able to rent out their automobiles for thousands of dollars per month.
Some hosts on Turo have a fleet of vehicles and use the service as a business. A “host protection” service that Turo offers covers liability and physical damage up to $1 million. Additionally, hosts have the option to add their own commercial insurance plan for added security.
Andre Haddad assumed the position of CEO of Turo in 2011. Haddad previously served as the CEO of Shopping.com, an eBay company. Turo has grown significantly and entered new markets under Haddad’s direction.
The way people view automobile rental services is changing thanks to the creative and distinctive Turo platform. With its peer-to-peer business model, it gives drivers a more cost-effective and flexible option while also enabling car owners to make money by renting out their vehicles. In the years to come, the business will probably become even more well-known and prosperous as it keeps growing and expanding.
The model, location, and availability are just a few of the variables that affect how much money a Tesla can generate on Turo. However, the Turo website states that Tesla owners often make $700 every trip. According to several Tesla owners on Turo, daily earnings might range from $200 to $1,000, depending on the market and region.
Depending on the host’s protection package choice, Turo retains a part of the rental cost. Normally, Turo charges hosts 10 to 35 percent of the rental price as a commission, however this amount may be higher for hosts who pick a higher level of vehicle insurance.