Car rental businesses are the new trend and the one leading this trend is the Turo business model. The peer-to-peer rental businesses are expected to grow by approximately 700% in the coming eight years. There are a number of factors behind the driven growth, including fewer carbon emissions, which leads to a greener environment, and a growing global preference for a minimalist lifestyle.
Both incumbents and new entrants in the peer-to-peer automobile rental business, of which Turo is a significant player, are focused on inducing sustainable and minimalist growth.
Turo has been compared to Airbnb, is as straightforward as they come. You only need to provide a place and a date. Furthermore, users can narrow down their search by picking a specific brand of a car, type ( convertibles/vans), and model.
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