We are not a rental car company. We are a peer-to-peer marketplace. The difference is that we do not own a single car. Our hosts do.
The best hosts on Turo earn more from sharing their cars than they pay in car payments. We turned car ownership from a cost center into a revenue stream.
Hertz and Avis spent decades building fleets and airport counters. We built a marketplace and let the cars come to us. Turns out there were millions of them.
There are 280 million cars in the US and most of them sit parked 95 percent of the time. That is not an asset. That is a liability pretending to be one.
Insurance was the hardest problem we had to solve. Nobody had ever underwritten peer-to-peer car sharing before. We basically had to invent the category.
Every car on Turo is someone's actual car. That means they take care of it. Try saying that about a rental car with 80,000 miles on it.