There have been lots of changes to both car sharing platforms over the past year. 2023 was a great year for get around as they improved upon many great features and subsequently made life easier for the hosts on their platform. However, in 2024 things are not looking so great for GetAround as they have had issues with layoffs and their finances. Turo has been moving from strength to strength and are regularly increasing their territory. Even acquiring a rental company in France in 2023. In this article we look more into which platform is best for hosts in 2024.
Get around
Hand off process
One of GetAround’s strongest assets is its Connect system. This allows Customers to perform access your car from their phone and conduct a contactless booking. This is something that has always set GetAround apart from its competitors, however it also came with a variety of issues. The connect install can be a big hassle as you. have to take your car to the install location and then return at some point to collect it – this is time where you are not bringing in revenue. It also takes a lot of work and time to get it functioning fully, which has stopped a lot of hosts from scaling their business. The removal process has also been known to cause head-aches.
With WeCar’s remote-access system, we will send our technicians to the location of your vehicle and install it at a time that is most convenient for you. This means that your vehicle is never off the road and is always making you money.
Potential profit for hosts
With GetAround, when you have lots of bookings like is great, however GetAround has struggles being consistent in bringing in bookings for your vehicles. The best way to keep consistent growth is to keep your vehicles in large populated cities. Unlike Turo, GetAround does not do well in sub-urban areas.
Drive with Uber
The drive with Uber program is another big benefit of being on GetAround. Uber drivers can book out your vehicle, normally for months at a time to and use it to perform Uber trips. This can net you around £1400-£2000 a month which is fantastic. Unfortunately, not all cars are valid for this program, so you will need to check if your vehicle is.
Layoffs
Over the past year GetAround has struggled significantly with Layoffs as they are unable to hold onto staff due to financial concerns. This year, GetAround cut 30% off its North American staff to further reduce costs and try to keep their financials in the green. Could this be a sign that GetAround, won’t be around for much longer?
Turo
Popularity
Turo is way more wide spread and ubiquitous than GetAround. Turo is consistently gaining new territories such as the acquisition of a French rental company in 2023. Turo has plans to take over the car rental market and make their company the go to rental company in the up and coming years.
Financially stable
In contrast to GetAround, Turo is very financially stable – pulling in $750 million in revenue in 2023, compared to GetArounds $60 million ( which is a huge difference ). Turo seem to go from strength to strength especially with the huge amount of funding they are receiving every year.
More options for vehicles
With Turo you are able to different types of vehicles from Luxury, to City Cars, to Exotic vehicles. GetAround is a lot more limited and mainly facilities SUV’s and Sudans.
Lack of a remote hiring process
The biggest let down for Turo is a lack of a remote hiring process. This means that many Turo hosts are meeting with customers physically to hand off keys, which is really hindering their ability to scale.
WeCar has built a solution with Turo hosts in mind, which gives them the ability to have a contactless hiring process.
Summary
Both companies have their positives and negatives, as a host you will need to decide which company is better for you and your business and is more profitable in the area you are in.
