Hey there, Toronto!
Drake’s latest album and last weekend’s TIFF party weren’t the only things that brought the heat to Toronto this year. Turo bookings in the 6 fittingly, grew by more than six times this summer, while vehicle listings increased by over five times compared to last year.
In anticipation of our Toronto Community Event at the iconic SkyLounge on Thursday Sept 21 at 6 pm, we thought we’d give you a rundown on what makes Toronto’s unique market tick.
Toronto renters enjoy a stroll down Yorkville avenue, but opt for practical
With luxury, specialty, and upscale cars accounting for 45% of all listings viewed, one might think that Toronto renters only appreciate the finer things in life. However, when it comes to actual purchases, our renter community tends to be more price-sensitive and favours practicality over opulence. Subcompacts and compacts lead the herd when it comes to rentals, and account for 36% of bookings year to date, compared to 22% for luxury and upscale vehicles. So far in 2017, the average trip in Toronto lasted 2.59 days.
Toronto travelers have a need for speed
Porsches led the pack this year when it came to vehicle searches by make, with vehicles from the Stuttgart brand exceeding 12% of total viewed searches in Toronto. Other upscale brands weren’t too far behind, with Mercedes-Benz and BMW each accounting for 9% of searches, and Tesla listings receiving over 8% of total views.
It’s a highly seasonal business
It won’t come as a surprise to most veteran hosts that Turo business is seasonal in Canada’s metropolis. Toronto has quickly established itself as a rapidly emerging market for summer travel, with total bookings increasing over six-fold since the previous year. And while bookings in Toronto have begun to cool down, owners can look forward to an uptick during winter holidays!
Meet some of our MVPs
While they might not play for the Blue Jays or the Raptors, these Toronto hosts have shown that they have what it takes to be true team players. We’re excited to have these owners repping Team Turo!
- Having fulfilled 465 reservations to date on 13 cars, Fred has established a reputation for himself in the Turo rental community. Fred’s fleet caters primarily to the budget conscientious consumer, with his most popular ride — his Hyundai Elantra, having completed 86 trips.
- A poster child for Turo hosts and aspiring young entrepreneurs alike, power host Osama financed his microfleet of nine vehicles by renting his cars out on Turo. At age 22, he was able to afford his dream car — a Porsche Cayman, arguably one of the most desirable cars on the Turo platform to date.
- Kendell took the Toronto market by a storm with his fleet of eight luxury vehicles, which includes a Porsche Panamera, Range Rover and Maserati Ghibli. Kendell completed his one-year anniversary as a Turo host in June 2016 and has fulfilled 161 reservations to date.
- As the proud owner of a Tesla Model S and Volvo XC90, both of which are available for rent on the platform, David has become somewhat of a celebrity both at Turo and in the media. To date, he has 99 trips completed between his two cars, and has many more booked for future dates!
- Having hosted 152 travelers on their many Toronto adventures, Zurain remains a pioneer of the Turo brand in Canada, and has been a valued member of the community since launch. To date, his competitively priced Elantra has been taken on 113 trips, while his upscale Mercedes-Benz C-Class has been an adventuremobile to 39 lucky travelers.
Don’t miss out!
Want to learn even more about Turo’s Toronto market and meet the rest of the community? Be sure to catch us at our community party this Thursday!