Pandemic drives a new business with car-sharing platforms on rise

Consumer Watch

ATLANTA (NewsNation Now) — Thinking about renting a car soon? Good luck finding one. These days, rental cars are in short supply. 

In Atlanta, most major rental companies are running out of vehicles for the weekend. But there’s a new business model stepping in to fill the void. 

Peer-to-peer car-sharing services, described as Airbnb on wheels, offer cars owned by regular people.

Brandon Marines and his girlfriend Natasha Yen are cashing in by renting out their personal vehicles through Turo.com.

”We started this about six months ago — and we made $15,000 with three cars,” Marines said.  “I’ll tell you this … I have not paid one car payment.”

The pandemic has paved the way for car-sharing platforms such as Turo and GetAround. Last year, rental car agencies sold off hundreds of thousands of cars to stay afloat. Now, a global semiconductor shortage is cutting the production of new cars and making it harder for companies to rebuild their fleets. 

“Now all these renting companies don’t have enough cars, and they’re charging insane prices,” Marines said. 

Yen says booking through car-sharing platforms provides a more personal rental experience.

“You can book it from your phone, you can meet people, they can take it directly to the airport instead of you taking the shuttle to the terminal, she said. “It makes the connection a lot faster, easier.” 

She also says it offers some competition to the traditional methods of renting cars. 

“It’s gonna change the way even Hertz and Avis and everybody else runs their company.”

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

LKQD Outstream

Trending Stories

news-app-download-apple-350x50news-app-download-android-350x50