Founded as RelayRides in 2009, Turo quickly became a household name in the world of peer-to-peer car rentals. Starting with a simple idea, Turo disrupts the traditional car rental space by giving car owners a place to rent their cars to others. With its creative approach, Turo has made a significant mark on the car rental market, attracting customers from many countries.
Despite Turo’s remarkable success, we must cast our gaze across the competitive landscape. Every industry thrives on competition, and the car rental market is no exception. We can get a complete market picture and many other choices by looking into Turo’s competitors and alternatives.
Competitors like SnappCar and Zipcar, which offer similar peer-to-peer car rental options, or traditional companies like Hertz Corporation and Enterprise Holdings that offer a more conventional rental experience.
Whether you’re a user looking for different service features or a business owner trying to understand how the market works, a deep dive into Turo’s competition can offer valuable insights.
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SnappCar
Just like Turo, SnappCar is a solid player in the car-sharing industry. This innovative platform enables car owners to rent out their vehicles to those who need them. The goal here is to provide a simple, affordable, and smart way to use a car whenever you need one.
SnappCar operates on a peer-to-peer basis, which means if you own a car, you can rent it out to someone else using SnappCar’s platform. And if you’re on the other side and need a car for a day or a weekend, you can find a car that suits your needs on SnappCar.
One of the unique aspects of SnappCar is its emphasis on affordability. They aim to make car-sharing cheaper than owning a car. With SnappCar Keyless, car owners can rent out their vehicles without having to physically hand over the keys. This way, the rental process becomes easier and safer.
SnappCar has a mobile app that makes the process of renting and renting out a car straightforward and personal. You can browse through available cars, book your ride, and manage your rentals right from your phone.
SnappCar aims to make the world a better place by reducing the number of unused cars. They believe that by promoting car-sharing, we can have fewer cars on the road and less pollution. Turo also shares this view of environmental sustainability, making both companies not just competitors, but partners in a way, towards a greener future.
Zipcar
Zipcar is another alternative to Turo, established in 2000. The company has a fleet of about 12,000 cars that the company all directly owns. It primarily operates in cities and on over 600 college campuses across North America, Europe, Turkey, and Taiwan.
In 2013, Zipcar joined the Avis Budget Group, leveraging the parent company’s experience in the car rental business for its operations. This setup gives you the peace of mind that you’re dealing directly with a company that owns and maintains all its vehicles.
HyreCar
Like Turo, HyreCar is in the car-sharing business with a common goal: facilitating car usage without ownership. However, HyreCar has a unique twist — they focus on people who want to drive for ride-sharing services like Uber and Lyft, but don’t have a suitable car. They connect these potential drivers with car owners willing to rent their vehicles.
HyreCar started in 2014, a few years after Turo, and has grown since then. As of 2020, they had over 100,000 users and thousands of cars available to rent. While this number may seem small compared to Turo’s millions of users and hundreds of thousands of cars, it’s still a significant user base. And just like Turo, HyreCar operates in many cities across the United States.
What sets HyreCar apart is its focus on the gig economy. They don’t just cater to people who need a car for a trip or a day out. They’re about helping people make money as ride-share drivers. So, if you’re an Uber or Lyft driver who doesn’t own a car, or if your vehicle doesn’t meet the ride-sharing companies’ requirements, you can rent one through HyreCar and start earning.
Another benefit of HyreCar is that they provide insurance for every rental, so the car owner and the renter have peace of mind. Plus, they don’t require long-term commitments. You can rent a car for a few days, a week, or even longer. This flexibility makes it a good option for gig workers.
To sum it up, HyreCar is a key competitor to Turo in the car-sharing market, but they have carved out a niche for themselves by serving gig economy workers. They may not be as big as Turo, but they provide a unique service that helps them stand out in the crowded car-sharing field.
BlaBlaCar
BlaBlaCar is a company that focuses on long-distance carpooling. It was created by Frédéric Mazzella, Francis Nappez, and Nicolas Brusson in France in 2006. Over the years, it has grown to be a big company with a presence in 22 countries, including many in Europe, Mexico, Brazil, India, and others.
Both companies are part of the larger “sharing economy,” which is all about better using resources that would otherwise go to waste. In the case of Turo, it’s about cars that would be sitting unused.
For BlaBlaCar, it’s about filling empty seats in cars already making a trip, i.e., carpooling. So, both companies compete for the attention of people who need a vehicle, but don’t want to own one. By 2021, BlaBlaCar had already raised over $450 million in funding. The company has used that money to grow and expand into new markets.
Hui Car Share
Hui Car Share is a key player in the car-sharing market, vying directly with Turo in providing car rental services. They have developed a platform enabling individuals to rent cars for brief periods, ranging from a few hours to several days.
The concept is remarkably straightforward: if you need a car temporarily, you can locate and rent one via Hui Car Share. It’s akin to having access to a car fleet without the associated burdens of ownership. The entire process — from reserving a car through their app, picking it up from a specified location to returning it once done — is designed for utmost convenience and flexibility.
Hui Car Share boasts a diverse selection of vehicles, ranging from compact cars for city driving to larger vehicles for family outings or group excursions. Their fleet undergoes regular maintenance and servicing to guarantee renters a reliable and comfortable experience.
Although Hui Car Share might not be as widely recognized as other car-sharing platforms, it has steadily gained market traction. They have cultivated a network of car owners willing to share their vehicles, furnishing others with convenient transportation.
By offering a platform that links car owners and renters, Hui Car Share capitalizes on the sharing economy and advocates for efficient resource usage. It represents a cost-effective and environmentally friendly alternative to traditional car rental services, particularly for those requiring a vehicle only for brief periods.
Uber Rentals
Uber, also known as Uber Technologies Inc., is a giant in the transportation sector. This company, which was started by Garrett Camp and Travis Kalanick in 2009, is well known for its taxi services. People can hail a taxi from Uber through an app on their phones. The company sets the fares, which is done based on the local supply and demand at the time of the booking.
Today, Uber operates in 70 countries and 10,500 cities worldwide, with over 131 million monthly active users and 5.4 million active drivers. It provides an average of 23 million trips daily through all its combined services.
One of the subsidiaries of Uber that competes directly with Turo is Uber Rentals. This service lets users compare, reserve, and pay for rental cars online. Users can book cars at any time and choose to pay in advance or at the counter. Users can customize their rental car with bike racks, car seats, and ski racks. This service is currently available across the United States.
The process of renting a car with Uber Rentals is quite straightforward. You start by booking your rental car online. You then go to the rental location with your driver’s license and credit card at the time specified in your reservation.
When your reservation ends, you return your vehicle to the specified location. In some cities, they even offer a valet service where the rental car can be delivered to your door, and the valet can also pick up your rental car when you are done with it.
The cost of renting a car with Uber Rentals depends on factors like the time you will be renting, the car size, and market seasonality. They offer a range of vehicles, such as a BMW 3 Series, Ford Fiesta, Jeep Compass, Kia Soul, and much more. You can rent a car for as little as an hour or, for car-sharing services, for up to six months. Cancellations are free, and your reservation can be modified before it starts.
It’s worth noting that while Uber offers these services, it is not a car rental broker or insurer. Instead, it provides third parties with the data they need to offer their products and services, improving the user experience.
Lyft Rentals
Lyft Rentals is a service offered by Lyft, a company famous for its ride-sharing services. Lyft was founded in 2012 and is headquartered in San Francisco, California, just like Turo. It’s a public company, trading as LYFT on the Nasdaq. Lyft operates in the United States and Canada, offering ride-hailing, food delivery services, and car rentals.
Lyft Rentals competes with Turo because it’s also in the car rental business. This service lets you rent a car for any occasion, whether you need it for a few hours, a day, or even longer. Like with Turo, you book and pay for your car online, pick it up, and then return it when you’re done.
Lyft Rentals offers a wide range of vehicles, from small, economical cars for city driving to large SUVs for family trips. Booking a car from Lyft is easy; you can do it online or through their app. They even offer free cancellation, which is handy if your plans change.
A unique feature of Lyft Rentals is their offer of a $20 ride credit each time you rent. This means you can get a free ride to and from the rental location, making the process more convenient. They also offer unlimited miles, so you don’t have to worry about how far you’re driving.
While Turo and Lyft Rentals offer car rental services, they operate differently. Turo is a peer-to-peer service, meaning you rent a car from another person. On the other hand, Lyft Rentals operates more like a traditional car rental company, where you’re renting from a business.
Hertz Corporation
Hertz Corporation is a big name when we talk about car rental services. It’s a company that has been around for a long time, starting its journey back in 1918. This gives it a significant experience edge in the industry, having been around for over a century. Now, it has a presence in more than 150 countries, serving customers all over the globe.
Like Turo, Hertz’s primary business is car rentals. People can rent various vehicles from Hertz, from compact cars for a quick city trip to spacious SUVs for a family vacation. This puts Hertz in direct competition with Turo, as both companies offer customers the option to rent cars for short periods.
Hertz also has a subsidiary called “Hertz Car Sales,” which sells used cars. While this doesn’t compete directly with Turo, it illustrates Hertz’s diversified business approach. Renting from Hertz is very easy. First, you pick a car from their list. They have a wide range of options, so you should be able to find something that suits your needs. After choosing a car, you select the pickup and return locations and the dates.
After entering these details, the total cost will be displayed, and you can finalize your reservation. If you are a member of their Gold Plus Rewards program, you can earn points for your rentals, which you can later redeem for free rentals. It’s worth noting that Hertz, like Turo, has insurance coverage for its rentals. This means you’re not left in the lurch if something happens to the car while renting it.
One thing that sets Hertz apart is its long history and widespread presence. It’s a well-known brand, and for many, it’s a trusted option for car rentals. This could make it a tough competitor for Turo, especially among customers who prefer going with tried and tested companies.
Enterprise Holdings
Enterprise Holdings is a big player in transportation and mobility solutions. The company’s headquarters are in Clayton, Missouri, in the Greater St. Louis area. Enterprise Holdings is a private holding company, and the Taylor family, who started the company in 1957, still owns it today.
Enterprise Holdings has a wide range of brands and independent regional subsidiaries. The company offers car and truck rental services, vanpooling and car-sharing services, car sales, and fleet management, among other things. It’s like a one-stop shop for many transportation needs.
Enterprise Rent-A-Car, National Car Rental, and Alamo Rent-A-Car are all part of the Enterprise Holdings family. Therefore, Enterprise Holdings can accommodate your needs whether you require a car for a brief journey or a longer vacation. You can also buy used vehicles from them or rent commercial trucks.
Enterprise Holdings is one of the three biggest rental car companies in the United States. They hold a 33% market share, which puts them behind Hertz Corporation but ahead of Avis Budget Group.
As of 2010, Enterprise was North America’s biggest car rental company — plus, their alliance with Europcar also gave them the largest global car rental network. This success is largely because of their focus on customer service. Enterprise is a substantial company, employing around 80,000 people, and the company also pulls in hefty revenue, reaching $30 billion.
Enterprise Rent-A-Car, National Car Rental, and Alamo Rent-A-Car are the ones that compete directly with Turo. These brands all offer car rentals, the same service that Turo provides. However, each brand has unique selling points and targets different market segments, just like Turo.
GIG Car Share
GIG Car Share is a neat service that lets people rent cars for short periods. They operate in cities like the San Francisco Bay Area and Seattle. AAA, a well-known name in the auto industry, powers the GIG Car Share services.
Utilizing GIG Car Share services is notably straightforward. You open their app, find a car, and off you go! You can stop anywhere and end your trip almost anywhere within their designated areas, called “Home Zones.
An advantageous feature is that their membership is free. You only pay for what you use, and they always find the most affordable price for you. Fuel, insurance, and parking are included in the cost, so you can focus on your trip and not worry about extra fees.
GIG Car Share is excellent for all sorts of trips. Whether you’re going shopping, need to haul a bunch of stuff, or just want to explore, they’ve got you covered. Their eco-conscious approach aids in reducing your carbon footprint.
GIG Car Share and Turo offer car-sharing services, but they do it differently. Turo is more like an Airbnb for cars, where car owners list their vehicles for others to rent. On the other hand, GIG Car Share has a fleet of vehicles for people to use.
Conclusion
In conclusion, while Turo is a leading peer-to-peer car-sharing platform, numerous competitors and alternatives provide similar services with varying features and benefits. Key competitors, such as SnappCar, Zipcar, Enterprise CarShare, HyreCar, Uber, etc.
Despite their unique offerings and approaches, all these platforms contribute to the shared economy and add to the dynamic competition in the car-sharing industry. Customer preferences, location, and specific needs determine which platform they would choose as an alternative to Turo.