Turo milestone shows sharing economy has evolved from early adopter trend to mainstream income solution amid rising cost of living.
TORONTO, July 9, 2025 /CNW/ -- Turo, the world's largest car-sharing marketplace, today announced that Canadian car owners have collectively earned over $300 million by sharing their vehicles on the platform since the company launched in Canada in 2016.*
The $300 million in host earnings represents a significant injection into the Canadian economy at a time when rising living costs are pressuring household budgets nationwide. With car ownership costs climbing 9% to an average of $5,497 annually according to Turo's 2025 Car Ownership Index, Canadian car owners are increasingly turning their idle assets into income generators.
"For most Canadians, their cars sit idle 95% of the time, but they don't have to," said Bassem El-Rahimy, Vice President of Turo Canada. "Hosting on Turo is giving everyday Canadians a powerful new way to unlock value from what they already own. Whether it's to cover bills, fund passions, or build a business, more people are realizing that their car can work for them, not the other way around."
Turo sees a broad range of Canadians host their cars on Turo. Many hosts share a single car, earning income when it's not in use, while other hosts have found the platform so lucrative that they have turned it into a full-time business, with some Canadian hosts listing 5 to even 50 vehicles.
Success Stories Reflect Broader Trend
Turo's growth in Canada is being driven by entrepreneurs like Ian Thomas, a Vancouver-based host who turned a single car listing into a thriving fleet of 10 vehicles in just two years.
"I started on Turo as a student, just testing the waters with my personal car," said Thomas. "Canadians were so kind and respectful to my vehicles, and I was surprised by how quickly bookings came in. What started as a small experiment has turned into a real meaningful side business. It's grown faster than I ever expected."
Canadian hosts are earning an average $3,500 during peak summer months, with many using the income to offset rising costs of living, fund education, or build emergency savings.
Domestic Travel Boom is Driving Demand
The milestone comes as Canadians increasingly choose domestic travel options, creating strong demand for unique vehicles in popular destinations. Leger data shows 77% percent of Canadians plan to travel domestically up 8% year-over-year, with car-sharing benefiting from travelers seeking alternatives to traditional rental cars.
"Travelers want authentic experiences, and they want to support local communities," said El-Rahimy. "When you book through Turo, you're not just getting a car – you're putting money directly into a Canadian's pocket, supporting local economies from coast to coast."
Platform Safety and Protection Drive Confidence
This mainstream adoption has been enabled by Turo's comprehensive insurance coverage that addresses both host and guest concerns. Every reservation includes $2 million in liability coverage, with protection plans covering physical damage up to the vehicle's full value, maximum $150,000.
"Trust and safety are foundational to the sharing economy," El-Rahimy noted. "Insurance coverage provided by Economical Insurance and ICBC gives both hosts and guests confidence to participate, which has been crucial to our growth beyond early adopter communities."
Looking Ahead: The Future of Asset Sharing
The company plans to continue expanding across Canada, most recently launching in the Yukon last month. Turo is now available in BC, Alberta, Ontario, Quebec, Nova Scotia, New Brunswick, Newfoundland and Labrador, Prince Edward Island and the Yukon.
*Based on host earnings in Canada from April 2016 to July 2025.
About Turo
Turo is the world's largest car-sharing marketplace, where you can book the perfect car for wherever you're going from a vibrant community of trusted hosts across the US, UK, Canada, Australia, and France. Flying in from afar or looking for a car down the street, searching for a rugged truck or something smooth and swanky, you can skip the rental car counter and choose from an extraordinary, totally unique selection of nearby vehicles shared by local hosts.
Entrepreneurs can take the wheel of their futures by becoming hosts and building car-sharing businesses on Turo, leveraging our established platform to scale their businesses to meet their goals.
With an unwavering mission of putting the world's 1.5 billion cars to better use, Turo unlocks the hidden value in idle and underutilized assets, empowering anyone to get in the driver's seat. Find your drive® — Turo.
Media Contact: Christina Mangiola, North Strategic on behalf of Turo [email protected]
SOURCE Turo Inc.
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