The numbers are in. I want to review my financial performance on Turo for July.
My goal is that this transparency motivates you to at least explore car sharing on the Turo platform. I’m happy to help you get started, just get in touch.
If you prefer to watch a video then you might like this:
Before we dive in
- My earnings include 2 vehicles. However, my BMW X5 is only part-time on the Turo platform. The Mustang is a full-time Turo rental vehicle.
- I purchased the Mustang in June so keep in mind the low Turo reviews for that car. July was essentially my first full month hosting on Turo.
- Lastly, I was awarded the ‘All-Star Host‘ badge in July.
My revenue for July was $1433 for both cars.
|Total Miles July:||2764|
|Miles per Day||106|
|July Average Miles Used:||59%|
As you can see, my cars were on the road almost every day in July. My fleet accumulated 2764 miles or 106 miles per day. I further break that down to roughly 60% of allocated miles per reservation were used. So, if a trip had 1000 miles attached, a guest on average used only 600 miles.
I suspect ‘miles utilized’ will be an important metric for me down the road. I can see a scenario were I offer my Mustang with Unlimited Miles. This would increase marketability. I could also technically charge a higher daily price which would set me apart from my competitors and remove the pricing war competition. More on this strategy later.
July was an OK month. It’s summer which tends to be busier but my Mustang was brand new on the Turo platform.
August is shaping up to be a terrific month (as is September and even October). I’m looking forward to reporting August numbers shortly.
How do you think I did?
How did you do?
Ready to start hosting on Turo? Get in touch and I’d be happy to guide you.