Empire state of mind
The peer-to-peer car sharing prohibition in New York may not be over just yet, but lest you have any doubts about the strength of the Turo community in the greater Tri-State area, come on down to our speakeasy community party tonight. The Tri-State area is squarely in Turo’s top-five largest markets with thousands of dedicated owners in New Jersey and Connecticut putting their cars to better use to fuel more adventures than ever before. So what keeps this major market buzzing? We scoured local data to show you how to make it here so you can make it anywhere.
A new kind bridge-and-tunnel crowd
In most Turo markets, the majority of trips are completed by travelers coming in from out of town. In the Tri-State area, about two thirds of drivers are locals looking to get out of town. A little less than half of these local renters are New Yorkers. As with most dense urban markets with predominantly local renters, many searches are all about location, location, location. Approximately 24% of all searches in the area are by map where a plethora of available cars can be found in prime transit-rich locales in New Jersey.
While convenience is certainly attractive, so are the “treat yourself” classes of cars. “Elite” and “Upscale” together make up about half of all searches by category. BMWs are the most commonly searched make in most markets, but are searched about twice as often as the second and third most popular makes (Mercedes-Benz and Tesla, respectively).
What cars get booked in a New York minute?
There’s a fairly even schmear of different categories actually booked. Daily drivers like Honda and Toyota garner the most trips, but BMW follows closely behind. The penchant for comfort is uniquely realized by hosts that offer delivery. About half of the cars listed in the area offer this amenity to travelers and it typically results in about 50% more bookings and, consequently, 50% more earnings.
Seasonality and trip types
Nationally, the summer months and winter holidays tend to be a high season in the marketplace. This seasonality is particularly amplified in the Tri-State area with nearly double the amount of bookings June through September than in the first few months of the year. Last month was the area’s strongest month ever and the high season is just getting started!
The average trip length is a bit shorter than in other markets given the large amount of locals making quick weekend jaunts, but the average trip length peaks in August when locals take longer weekends down the Jersey shore or upstate.
See you at the speakeasy?
With the basic nuances of the market, we hope you’ll join us for tonight’s community party to share your insights. You’re welcome to bring a friend but just make sure your both registered to attend while there’s still space available!