Turo + Canada: Insights + musings
Happy Canada-versary! I honestly can’t believe it was a whole year ago that we launched here in Canada. It seems like just yesterday we were fêting our landmark first international expansion, and now here we are, a year later, with a bustling, dynamic, and growing community of hosts and travelers, thousands of unique cars for rent across Alberta, Ontario, and Quebec, and fresh opportunities for Canadians to rethink both car ownership and conventional travel options.
To celebrate and reflect on our inaugural year here in Canada, I’ve compiled some of our most exciting milestones to color in the last 12 months.
A landmark first year
Turo’s launch in Canada, apart from being an internal first for the company (our first foray outside the US), was also a national first. Turo was Canada’s first peer-to-peer car rental marketplace, offering Canadian car owners an unprecedented opportunity to transform their depreciating assets into earning engines. There are 23,000,000 cars in Canada, so the opportunity is huge. And we’re thrilled that so many Canadian are seizing that opportunity.
Last year, $60,000,000 worth of cars were put to better use via Turo, 2,800 cars were listed by private owners — including over 400 unique makes and models like the Tesla Model S, the Porsche 911, and the Bentley Continental GT — and 1,500,000 km were driven throughout Canada by travelers benefitting from the Turo marketplace.
And since launching with our vanguard insurance partners, Intact and belairdirect, 8 additional insurance companies have followed suit, revising their policies to allow Canadians to rent out their cars and consequently making huge strides to bring aging insurance paradigms into the modern age.
Vibrant community vibes
Apart from the business benchmarks, our car owner community has developed and matured from fledgling early adopters into enthusiastic, entrepreneurial advocates. Turo hosts average $475 per month, which often suffices to recoup the entire cost of car ownership. This is tremendously powerful — Canadian citizens are able to completely change the way they think of car ownership and its financial burden. 65% of Canadian owners surveyed reported using their Turo earnings to pay down their car loans, and an impressive 28% reported interest in buying additional cars to list in the marketplace in the coming year.
And even if we overlook the financial boons, there’s the raw pleasure of jiving with a community that has spurred the success of our Canadian community. Osama B., who will be featured on the blog later this week, mentioned recently that he has become a Turo advocate among the Toronto community — he meets with people in his local Starbucks to talk Turo, giving pointers on how he’s succeeded on Turo and just rapping about his experience in the marketplace. It’s these types of anecdotes that continue to inspire, amaze, and encourage — people helping people is the lifeblood of our business.
To many more to come
Osama is one of thousands of the clever, intrepid, and good natured people we’ve had the pleasure of meeting over the last year, shouting Turo from the Canadian rooftops.
I continue to be inspired by our community, and I encourage you to share your Turo story on social — just tag your post with #TuroCanada! We’d love to hear about your anecdotes, experiences, and stories from the last year.
And tune into the blog all week as we celebrate our host community with profiles of owners like Osama from across the country.
Cheers to a sensational first year, and to many more to come!