Jun 1, 2022 - Economy

Car sharing service Turo launches in New York

Hope King

Illustration of a pattern of cars in varying green colors — Illustration: Aïda Amer/Axios

Peer-to-peer car sharing service Turo will be available in all 50 states by the end of this month when it launches in New York, becoming the first business of its kind to reach this milestone.

Why it matters: Summer travel is back and car rental shortages over the past year helped push consumers toward businesses like Turo, Getaround and Avail.

Details: Starting June 27, travelers in New York will be able to use Turo to book cars that range from a Tesla Model X and Maserati Quattroporte to a 1998 Isuzu Rodeo.

Car owners, or “hosts,” looking to rent out their vehicles can pre-list starting today.

The big picture: New York passed a law at the end of last year to allow peer-to-peer car sharing programs to buy group insurance while establishing taxes to fund mass transportation.

States including Arizona, Florida and Hawaii have also passed new legislation and regulation for these types of businesses.

What to watch: Turo filed for an IPO at the start of the year.

It's also expanding globally. Today it announced the acquisition of OuiCar, a competitor based in France. The company currently operates in the UK and Canada as well as in the U.S.

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Car sharing service Turo launches in New York

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