What? Turo is a car sharing company that allows car owners to list and rent their cars to others much like Airbnb rents accommodation. It currently operates in more than 2500 U.S. cities and offers over 800 makes and models of cars at a broad price range. Car owners renting their cars through Turo make an average of $600/month. Turo is looking to come to Canada; however it must pass certain insurance hurdles before it can operate.
So what? Car sharing offers a more efficient use of unused assets (the car sitting in your driveway while you’re at work) and could help to usher in a culture that would be very conductive to driverless car sharing. It will be another source of disruption to Canada’s current regulatory environment and transportation mix.