Turo operates within the car sharing industry.
Turo is a peer-to-peer car sharing marketplace where individuals can rent out their personal vehicles to others. This innovative model positions Turo squarely within the broader sharing economy, specifically focusing on the transportation sector.
Understanding Turo's Place in the Car Sharing Industry
Turo, which was founded in August 2009 by Shelby Clark and was formerly known as RelayRides until 2015, revolutionized the traditional car rental concept by enabling vehicle owners to monetize their idle cars. This approach differs from conventional car rental companies by leveraging a decentralized network of private vehicle owners, making it a prominent player in the peer-to-peer segment of car sharing.
Here's a quick overview of Turo:
| Detail | Description |
|---|---|
| Company Type | Private |
| Industry | Car sharing |
| Founded | August 2009 in Boston, Massachusetts, U.S. |
| Founder | Shelby Clark |
| Formerly Known As | RelayRides (2009–2015) |
Key Aspects of the Car Sharing Industry
The car sharing industry encompasses services that provide users with short-term access to a vehicle, often on an hourly or daily basis. This includes:
- Peer-to-peer (P2P) car sharing: Like Turo, where private car owners rent out their vehicles directly to other individuals. This model fosters asset utilization and can offer a wider variety of vehicle types.
- Station-based car sharing: Where vehicles are picked up and returned to designated parking spots (e.g., Zipcar).
- Free-floating car sharing: Where vehicles can be picked up and dropped off anywhere within a defined operational zone.
The industry addresses various needs, from occasional vehicle use for those who don't own a car, to supplementary options for car owners, and even specialized vehicle access (e.g., luxury cars or trucks) that might not be practical to own. This focus on access over ownership is a defining characteristic of the car sharing industry and the broader sharing economy.
