Los Angeles has been Turo’s largest market since it first beat out the San Francisco Bay Area way back in 2015. Today, the LA area has more than 10,000 cars actively listed and has generated more earnings to date than our second, third, and fourth-largest markets combined. What’s more, nearly half of the LA market’s total earnings to date were made just in 2018!
Now that we’ve celebrated our top market with last week’s community party, we’re once again breaking down the ins and outs of LA’s dominance to help our Angeleno community get to know their market better than ever before.
The number of trips completed in our LA market has just about doubled every single year since Turo launched there. This summer in particular was very hot for LA. Average monthly host earnings hit a record high of $2,079 for August, making LA one of our most lucrative markets for hosts. This figure is even more impressive when you consider that more than 85% of LA hosts have just one car listed.
As in prior years, the LA market has a particularly strong demand for higher-end cars. BMW, Mercedes-Benz, and Porsche are still the most-searched makes. However, Tesla joined the top five list for 2018, accounting for about 5% of all local searches. While the search volume for the tried-and-true luxury makes is still about double the number of searches for Tesla, travelers filtered for Delivery more than anything else when searching on Turo. The appetite for the convenience of curbside delivery makes sense when you consider that more than two-thirds of LA-area trips are booked by out-of-towners.
Despite fancier whips commanding the highest interest in our search data, the daily driver cars still collectively secure a higher share of bookings. Individually, however, upscale cars that are still moderately-priced perform best in the LA market. The Ford Mustang and Jeep Wrangler, particularly the convertible versions, were the top-producing models this year.
The LA area’s perennially pleasant weather has yielded pretty consistent seasonality for the market in years past. This year, the summer months saw a surge in bookings that were much higher than the typical summer spike. Interestingly enough though, the market’s overall utilization rate and average trip length (about 4 days) did not fluctuate much from the beginning of the year. This year’s high-performing summer months — the market’s strongest to date — were largely fueled by increased vehicle supply and a slight increase in the average earnings per trip.
Eric recently broke a Turo record, hosting more trips than any host in the community with a whopping 12,000 trips and counting! Eric credits his success to a diverse collection of cars that are conveniently available 24/7 near LAX, and the support of the small-but-mighty team he’s assembled to ensure all his guests are well taken care of.
TOP HOST RUNNER-UP
Hosting thousands of trips isn’t easy, but what sets Curtis apart from other well-seasoned hosts is his near-perfect rate of 5-star reviews from his guests.
ROOKIE OF THE YEAR
Olga got started in late March of this year with her Ford Mustang in Anaheim and has gone on to add a small collection of both sporty cars she enjoys as an avid car fan and practical rides that cater to families visiting nearby theme parks.