Uber and Turo announce partnership to bring Turo vehicles to Uber Rent
Rhea-AI Summary
Uber Technologies (NYSE: UBER) and Turo have announced a multi-year partnership to integrate Turo's peer-to-peer car sharing marketplace into the Uber Rent platform. Starting in early 2025, Uber customers in the US, UK, Canada, Australia, and France will be able to rent from Turo's extensive selection of over 1,600 vehicle makes and models directly through the Uber app.
This collaboration aims to boost opportunities for Turo hosts and provide Uber users with access to a diverse range of vehicles. The partnership is expected to tap into a $150 billion-plus total addressable market, promoting shared vehicle access and reducing private car ownership. Both companies view this as a strategic move towards shaping the future of transportation.
Positive
- Expansion into new markets: US, UK, Canada, Australia, and France
- Access to Turo's extensive vehicle selection of over 1,600 makes and models
- Potential to tap into a $150 billion-plus total addressable market
- Strategic alignment with future transportation trends
- Increased revenue potential through expanded service offerings
Negative
- None.
News Market Reaction – UBER
In the trading session that priced this news, UBER declined 0.43%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Uber customers throughout the
Uber will bring Turo's extraordinary selection of over 1,600 makes and models to the Uber Rent platform, beginning in early 2025. The partnership aims to unlock more opportunities for Turo hosts to turbocharge entrepreneurship, while enabling millions of Uber customers in the US,
"Our partnership with Uber unlocks a huge opportunity to utilize the Uber Rent platform to turbocharge growth and further cement our position as the world's largest peer-to-peer car sharing platform," said Turo Vice President, Business Development, Andro Vrdoljak. "By joining forces with Uber, Turo is well positioned to penetrate a massive
"We see flexible access to shared vehicles as a critical part of the future of transportation - and partnerships such as this with Turo are a key part of getting there while continuing to offer the best experience for riders," said Niraj Patel, Global Head of Consumer Vehicles at Uber. "By working together, we can further our shared goals of reducing private car ownership and putting the cars that are on the road to better use, all while giving Uber Rent customers more choice to pick the ideal car for their next errand or weekend getaway."
About Turo
Turo is the world's largest car sharing marketplace, where you can rent the perfect car for wherever you're going from a vibrant community of trusted hosts across the US,
With an unwavering mission of putting the world's 1.5 billion cars to better use, Turo unlocks the hidden value in idle and underutilized assets, empowering anyone to get in the driver's seat. Find your drive® — Turo.
To learn more about Turo, please visit www.turo.com.
About Uber
Uber's mission is to create opportunity through movement. We started in 2010 to solve a simple problem: how do you get access to a ride at the touch of a button? More than 52 billion trips later, we're building products to get people closer to where they want to be. By changing how people, food, and things move through cities, Uber is a platform that opens up the world to new possibilities.
Media Contacts:
press@turo.com
press@uber.com
Source: Turo Inc.
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SOURCE Turo Inc.