Laissez les bons temps rouler
With a local population of just over a million and a tourism industry still recovering from the aftermath of Hurricane Katrina more than a decade ago, most Turo markets are larger than New Orleans. However, since welcoming its highest amount of visitors since 2004 just last year, the growth of Turo’s NOLA market has followed the same rapid growth. Local host earnings have more than doubled in the past year and hit an all-time high last month over the holidays. To get you all jazzed up for tonight’s community party in The Big Easy, we thought we’d provide a breakdown of the market’s inner workings.
Simplicity in The Big Easy
Take a look at most market guides and you’ll see a common demand for a fashionable car at a decent price point in most markets. Yet, in a city known for being unique, simplicity ultimately reigns supreme in The Big Easy. Cars in the Luxury category accounted for just 9% of all listing views in the last year, making it one of the least popular categories only behind the Van/Minivan category at just 4% of all listing views. The Compact/Subcompact category garners the most listing views and is also booked more than three times as often as cars in any other category, accounting for more than half all trips booked in the past year. Accordingly, the most booked makes in the area are the reliable daily drivers like Nissan and Toyota.
MOST BOOKED MAKES:
Opportunity to take the king cake
Although daily drivers secure the most bookings, a unique opportunity may still exist for higher end cars as well. Ford and Chevrolet land on the list for both most booked and most searched, but makes like Tesla and BMW rank among the most searched vehicle makes, and reveal an appetite for something on the fancier side too. There are currently only a few of these types of cars in the area so an opportunity might exist to meet this untapped demand.
MOST SEARCHED MAKES:
The volume of searches for these particular makes is still ultimately less than the number of searches for convenience. This is The Big Easy, after all, so listings that offer simplicity and ease stand the greatest odds at taking the king cake (and baby doll too). Searches for cars by map or that offer delivery are the most popular types of searches.
Trip types and seasonality
For the past few years, the winter holidays have tended to generate the most earnings for hosts starting in October and reaching a peak in December. This past December was NOLA’s best month yet, and unsurprisingly, December was last year’s best month as well. Celebrations, like Mardi Gras and St. Patrick’s Day, for which the city is known, also bring a small uptick in trips before relatively slower summer months from June through August. The length of most trips falls slightly below the national average throughout the year, but this is mostly due to the high number of weekend trips for just a couple days that are particularly popular in the market.
These top owners have been hosting for a while now and are still among our most active community members in the area:
- Christopher has been hosting for a few years now and hosted about four times as many trips as any other owner in Nawlins.
- Full-time pharmacy student, Antoinette, has racked up over a hundred trips in her reliable little red Versa by offering an affordable daily rate and delivery to nearby airports.
- Simone is a schoolteacher by day so you know her car, affectionately named “Aiko”, will be prepared for an A+ trip. Joining the community way back in 2012, Simone is also the most tenured local host too.
- The price was not quite right for Erin when the brand new Fiat she had won on America’s longest-running game show had depreciated in value, and she decided to list it on Turo instead of selling it. Since then, she’s gone on to recently host her 100th trip just the other week!
- Victor has maintained his perfect five-star rating for just over a year now, delighting travelers with his Ford Fusion equipped with all the bells and whistles.
Catching their beads
These rookies may have hosted their first trip within the last year but still land among the movers and shakers:
- With 50 trips under his belt, Abdullah has quickly become a seasoned pro hosting trips in both fancy whips and economical rides alike.
- Evonne and her husband Chris are a power couple who have scored rave reviews from all their travelers since hosting their first trip this past summer.
- Proving the demand for a higher-end vehicle does indeed pay off, Damion has been off to a strong start with his two brand new 2018 Audis.
Feeling as jazzed about Turo’s NOLA market? Meet these top hosts and the Turo team at tonight’s community party at the St. James Cheese Company downtown. Hope to see you there!