Car Sharing Market Research Report, Industry Trends, Share, Size, Demand and Future Scope 41
According to the IMARC Group, “
Carsharing” refers to a car rental service where individuals hire cars for a shorter period of time. It supports community transit, improves urban land use and development, decreases personal car ownership, helps in achieving environmental goals, and provides affordable access to vehicles. At present, the rising need for affordable and convenient mobility services, coupled with several technological advancements that facilitate simplified access to shared mobility platforms, are positively influencing the demand for car sharing.
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A Ninth Circuit panel on Wednesday questioned whether there was enough evidence showing that online car-sharing platform Turo Inc. has contributed to Los Angeles International Airport's notorious traffic congestion to an extent that would justify a court injunction.
Jan. 1, 2021 7:00 am ET
When the pandemic hit, the chief executive of car-renting startup Turo Inc. thought back to how slowly he had responded to the dot-com bust. It didn’t end well for his startup at the time.
This time, Andre Haddad decided to be more aggressive. At the end of March, Mr. Haddad laid off a third of his 330-person workforce. The next month, he cut spending on marketing to zero, where it would stay for the entire second quarter. He studied every expense to try to find savings and shore up three years of cash.
Turo’s financial turnaround suggests the moves are working. The peer-to-peer car-renting marketplace reported its first-ever profitable quarter this year, according to results shared with The Wall Street Journal, and Mr. Haddad forecasts achieving full-year profitability in 2022, before adjusting for interest and taxes.