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How Turo is Disrupting the Car Rental Industry

October 30, 2018

A few years ago, in 2008, everyone watched in awe as Airbnb shook up the accommodation industry and cut into hotels’ revenue. The company created an online marketplace that connected individuals who are renting their homes with clients who needed accommodation. Barely a year after that, another startup called Uber was founded, and it took the transportation industry by storm. The company which coupled taxi services with technology made it possible for individuals in different companies to request taxi services from anywhere and at any time.

 

In the same year when Uber was founded, Turo came into inception, and it has since been referred to as the “Airbnb” of the car rental industry. Turo is a peer-to-peer car sharing platform that allows car owners to make money by renting their cars to those who need them. The company quickly rose from a small start-up in 2009 to a large corporation that has acquired two companies and raised more than $90 million in funding.

 

Turo disrupts the car rental industry

The car rental industry is one of the most lucrative sectors today. People travel every day, and some require long-term transportation services that cannot be given by taxis. This reality prompts them to rent cars, a process that can be extremely exhausting and frustrating. In a world where the sharing economy is thriving at a rapid rate, it was no doubt that someone would come up with the idea that would transform the rental industry. That person was Shelby Clark, the founder of Turo.

 

Since its inception in 2009, Turo has drastically transformed the car rental industry and taken the lion’s share from competitor firms. That’s because the company brought something unique and different on the table: the ability to rent a car from another car owner at individually negotiated terms. This came as a relief to prospective car renters who no longer had to adhere to stringent car rental rules from rental firms.

 

The company has quickly risen from a mere startup to a large corporation that currently operates in 250 cities and 300 airports. Turo currently has more than 200, 000 cars listed on its platform. The company now makes more than 300,000 million in annual revenue, a figure that other car rental companies can only dream.

 

What does Turo have to offer?

What makes Turo dominate over other car rental companiesin the industry? The peer-to-peer sharing platform comes with a lot of benefits for car rental clients and owners. First, it is a convenient platform with easy navigation that allows renters to feed in personal information for verification. After that, they can access the marketplace and choose from over 800 makes of cars. Once one finds their choice, they book the car, and the owner receives a prompt to confirm or decline the request. Once accepted, the renter decides whether to pick the car or have it delivered.

 

Some cars have a “book instantly” badge, and you can get an instant booking and pick the vehicle within a few hours. Renters have a chance to save on car rentals with the $25 Off Turo Promo Code. This is a great bargain as compared to using other rental companies. On the other hand, car owners get up to $1 million liability coverage on their vehicles and 24-hour roadside assistance.

 

Turo has and will continue to dominate the rental car industry if it continues to offer a better alternative to the lengthy car rental processes, affordable prices, and excellent customer experience. It has recently partnered with some rental companies on a major international expansion project. This progress means that there is much more to expect from this company.

 

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