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Tesla Model 3 Increasing Popularity On Turo Indicates Future Growth of EV Market

by Eva Fox August 03, 2020

Tesla Model 3 Increasing Popularity On Turo Indicates Future Growth of EV Market

Featured image: Turo

It's no secret that Tesla is the most popular brand of electric vehicles in the world. Tesla's car sales data for the first half of 2020 show huge consumer interest in the company's vehicles. However, this is just part of the picture.

Delivery data only reflects the number of sales and only partially shows real interest. So we need to diver a little deeper.

The rise in the popularity of Tesla and Model 3 can also be seen, for instance, via its success on Turo. Turo is an American peer-to-peer carsharing company. The company allows private car owners to rent out their vehicles via an online and mobile interface. This service has proven to be popular for those looking to try out an electric vehicle.

“EVs have been very successful for us,” Turo CEO Andre Haddad told Forbes in a phone interview. “A lot of people want to try the electric vehicle experience,” he said. 

The company said the number of Tesla listings on Turo rose from 67 in 2014 to 10,485 in 2020 (in just 6 months). As of summer 2020, the majority of those listings are for the Model 3.

In the Los Angeles area—one of the biggest EV markets in the U.S.—as of August 1, 2020, there were 120 Model 3s listed on Turo, 62 listings for Model S, and 49 for Model X.


Source: Turo

These figures reflect not only an increase in the number of Tesla owners but also a spike in the number of those who want to test Tesla cars for personal use.

Model X, of note, is their top earner, according to numbers provided by Turo.

The top-earning vehicle makes on Turo for “hosts” (who rent their cars to “guests”):

  1. Tesla Model X
  2. Chevrolet Corvette
  3. Tesla Model 3
  4. Jeep Wrangler
  5. Ford Mustang
  6. Tesla Model S

Average monthly earnings look like this for Tesla brands:

  • Tesla Model X: ~ $ 978
  • Tesla Model Y: ~ $ 813
  • Tesla Model 3: ~ $ 688
  • Tesla Model S: ~ $ 639

     

    Article edited by @SmokeyShorts, you can follow him on Twitter




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