Drivers ‘could make £500 a month’ via peer-to-peer car rental, says Turo

UK drivers could earn £500 a month by making their idle vehicle available to renters on Turo’s peer-to-peer car-sharing service, the company says. Turo carried out a poll of 2,000 UK motorists which revealed the average Brit spends under nine hours a week behind the wheel. UK drivers also leave their car unused for three days each week, the company adds. Xavier Collins, Turo’s UK director, says many drivers spend a small fortune on cars but never realise their full potential. “For the vast majority of
November 12, 2018 Read time: 2 mins
UK drivers could earn £500 a month by making their idle vehicle available to renters on Turo’s peer-to-peer car-sharing service, the company says.


Turo carried out a poll of 2,000 UK motorists which revealed the average Brit spends under nine hours a week behind the wheel.

UK drivers also leave their car unused for three days each week, the company adds.

Xavier Collins, Turo’s UK director, says many drivers spend a small fortune on cars but never realise their full potential.

“For the vast majority of adults, their car sits unused for most of its life. All the time it is unused, it could be earning money and repaying that investment,” Collins adds.

Findings show the average UK driver’s car is worth more than £14,000 and costs a further £1,118 each year in servicing, MOTs and upkeep.

Other findings show that 40% of UK drivers have gone two weeks or longer without using their car – with holidays being the most common reason.

Despite this, half of respondents say they would not allow anyone else to drive their car because of insurance issues.

Collins reveals the company has joined forces with financial services company 6027 Allianz to establish a comprehensive insurance cover to help provide security and peace of mind.

“Cars have, for too long, been our most depreciating investment but that doesn’t have to be the case anymore,” Collins adds.

In the US, 8262 Getaround has launched a similar car-sharing scheme in San Diego. The company says it expected drivers who subscribe to the service to earn more than $1,000 per month.

Urban Traffic Control

For more information on companies in this article

Related Content

  • Los Angeles drivers may face congestion charge following study
    March 6, 2019
    After a century as the city of the automobile, Los Angeles is taking a major step on the road towards congestion charging. The Los Angeles County Metropolitan Transportation Authority (LAMetro) is to explore road pricing and is also thinking about levying fees on ride-share companies for their part in creating gridlock. The moves are part of LAMetro’s ‘Re-imagining of Los Angeles County: Mobility, Equity and the Environment’ plan, which seeks policies to make transport sustainable in the famously-cong
    Read More
  • Investing in ITS: Show us the money
    April 8, 2022
    The ITS industry is currently attracting a lot of interest from private equity and venture capital providers. Adam Hill asks some of the people who have their eyes on the market what makes it such a good bet
    Read More
  • Bolt launches dockless e-scooters in Madrid
    August 16, 2019
    Bolt, the ride-share company which was formerly called Taxify, has launched electric kick scooters in central Madrid. The firm piloted the vehicles in Paris last year – making it the first to combine scooter-sharing and ride-hailing together in one mobile app, Bolt claims. “Beating the traffic is a big issue in cities like Madrid and a lot of trips are much more efficiently covered with an electric scooter rather than a car with a driver,” says Markus Villig, CEO and co-founder of Bolt. He says t
    Read More
  • C40 mayors make global ‘clean air’ pledge
    October 11, 2019
    In a move that will have significant implications for urban transit, 35 mayors at this week’s C40 World Mayors Summit in Copenhagen have pledged to “implement substantive clean air policies by 2025”. Among other developments, this is likely to mean further increases in low- or zero-carbon public transport and zero-emissions zones, along with enhanced incentives and infrastructure to support walking and cycling, in cities worldwide. Signing the C40 Clean Air Cities Declaration, the mayors signalled their
    Read More

Highlighted Content