Peer-to-peer car sharing company Turo recently launched a product that can help car dealers and OEMs sell their vehicles more efficiently, according to the company.
Known as the Carculator, the product aims to help users identify how much their vehicle can make when shared on the Turo platform. More specifically, it allows both new and existing members, and the public, to have direct access to Turo earnings data to calculate their vehicle’s profitability on the platform.
“Turo is fundamentally changing the economics of car ownership by turning the car from a cost centre into an earnings engine,” said Cedric Mathieu, director Turo Canada. “By making our wealth of data available to the public we can also help inform vehicle buying decisions and empower Canadian consumers to buy the car they really want.”
Using the Carculator can provide members with information such as the best and worst earning cars by city. This means users can view the makes and models that benefit from the highest ROI — and also, how it varies from city to city. Potential users can also browse prices to see what others are listing on the platform.
The service includes 350,000 listed vehicles in 5,500 cities. Over 500,000 Canadians are Turo members, including those that share their vehicles and those that rent. The initial rollout will include data for 28 markets in North America, and national averages for both Canada and the U.S.
Turo says automotive companies have shown interest in leveraging its data. The company is currently exploring potential partnerships with some of these companies.
