Latest news with #TuroCanada
Cision Canada
4 days ago
- Automotive
- Cision Canada
Turo to launch in Yukon, unlocking new income opportunities for local car owners
Yukon expansion is Turo's first entry into Canadian territories where a thriving tourism industry and demand for transportation options are growing The first 50 vehicles listed on Turo in the Yukon are eligible for a $500 incentive WHITEHORSE,YT, June 2, 2025 /CNW/ - Furthering its mission to put the world's 1.5 billion cars to better use, Turo has expanded its operations into the northern Canadian territories with the launch of its leading peer-to-peer car-sharing marketplace in the Yukon today. Turo, the world's largest car sharing marketplace, will provide Yukon residents and tourists with access to more transportation choices in the region, as well as new income opportunities for local car owners. "Bringing Turo to the Yukon is about more than growing our operations but about fueling new income opportunities for Yukoners," said Bassem El-Rahimy, Vice President, Turo Canada. Considered the gateway to the Yukon, Whitehorse and the Erik Nielsen Whitehorse International Airport have experienced a tourism surge in recent years, resulting in increased demand for flexible transportation options. With limited car rental options in the city, Turo and local hosts can fill that gap and support the community, which benefits from tourism particularly during peak tourist season in the summer and early fall. As part of the expansion into the Yukon, Turo will offer an exclusive $500 incentive for the first 50 vehicles listed. Terms and conditions apply. Local hosts will join the thousands of Canadian hosts across the country who are already earning income on the platform. Turo is a well-established and proven source of income for Canadian hosts, who earn $3,500 on average during the summer months (June to September, based on 2024 figures). Turo is the chosen car-sharing platform for thriving host communities across Canada, from British Columbia to Newfoundland and Labrador. The platform provides versatile earning options for hosts. Some individuals opt to share a single vehicle during periods when it is not in use, offering occasional supplemental income. Whether you drive a sedan, SUV, or truck, your vehicle can help meet demand from travelers while putting extra cash in your pocket. Meanwhile, entrepreneurial hosts manage multiple vehicles, operating as small business owners and significantly increasing revenue streams. Sharing your car is easy with Turo. Hosts can feel secure with the company's protection plans backed by insurance partners at Economical. With $2 million liability insurance coverage and physical damage protection for your vehicle, hosts choose from two plans: Top-tier coverage that takes home 75% of the trip price or a higher-risk option with 85% of the trip price. To learn more about Turo and list your car today, visit Start earning and be among the first to shape Turo's community in the Yukon. About Turo Turo is the world's largest car-sharing marketplace, where you can book the perfect car for wherever you're going from a vibrant community of trusted hosts across the US, UK, Canada, Australia, and France. Flying in from afar or looking for a car down the street, searching for a rugged truck or something smooth and swanky, you can skip the rental car counter and choose from an extraordinary, totally unique selection of nearby vehicles shared by local hosts. Entrepreneurs can take the wheel of their futures by becoming hosts and building car-sharing businesses on Turo, leveraging our established platform to scale their businesses to meet their goals. 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. SOURCE Turo Inc.
Yahoo
4 days ago
- Automotive
- Yahoo
Turo to launch in Yukon, unlocking new income opportunities for local car owners
Yukon expansion is Turo's first entry into Canadian territories where a thriving tourism industry and demand for transportation options are growing The first 50 vehicles listed on Turo in the Yukon are eligible for a $500 incentive WHITEHORSE,YT, June 2, 2025 /CNW/ - Furthering its mission to put the world's 1.5 billion cars to better use, Turo has expanded its operations into the northern Canadian territories with the launch of its leading peer-to-peer car-sharing marketplace in the Yukon today. Turo, the world's largest car sharing marketplace, will provide Yukon residents and tourists with access to more transportation choices in the region, as well as new income opportunities for local car owners. "Bringing Turo to the Yukon is about more than growing our operations but about fueling new income opportunities for Yukoners," said Bassem El-Rahimy, Vice President, Turo Canada. Considered the gateway to the Yukon, Whitehorse and the Erik Nielsen Whitehorse International Airport have experienced a tourism surge in recent years, resulting in increased demand for flexible transportation options. With limited car rental options in the city, Turo and local hosts can fill that gap and support the community, which benefits from tourism particularly during peak tourist season in the summer and early fall. Yukon residents encouraged to list their cars early to claim $500 incentive As part of the expansion into the Yukon, Turo will offer an exclusive $500 incentive for the first 50 vehicles listed. Terms and conditions apply. Local hosts will join the thousands of Canadian hosts across the country who are already earning income on the platform. Turo is a well-established and proven source of income for Canadian hosts, who earn $3,500 on average during the summer months (June to September, based on 2024 figures). Turo is the chosen car-sharing platform for thriving host communities across Canada, from British Columbia to Newfoundland and Labrador. The platform provides versatile earning options for hosts. Some individuals opt to share a single vehicle during periods when it is not in use, offering occasional supplemental income. Whether you drive a sedan, SUV, or truck, your vehicle can help meet demand from travelers while putting extra cash in your pocket. Meanwhile, entrepreneurial hosts manage multiple vehicles, operating as small business owners and significantly increasing revenue streams. Sharing your car is easy with Turo. Hosts can feel secure with the company's protection plans backed by insurance partners at Economical. With $2 million liability insurance coverage and physical damage protection for your vehicle, hosts choose from two plans: Top-tier coverage that takes home 75% of the trip price or a higher-risk option with 85% of the trip price. To learn more about Turo and list your car today, visit Start earning and be among the first to shape Turo's community in the Yukon. About TuroTuro is the world's largest car-sharing marketplace, where you can book the perfect car for wherever you're going from a vibrant community of trusted hosts across the US, UK, Canada, Australia, and France. Flying in from afar or looking for a car down the street, searching for a rugged truck or something smooth and swanky, you can skip the rental car counter and choose from an extraordinary, totally unique selection of nearby vehicles shared by local hosts. Entrepreneurs can take the wheel of their futures by becoming hosts and building car-sharing businesses on Turo, leveraging our established platform to scale their businesses to meet their goals. 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. SOURCE Turo Inc. View original content to download multimedia: Fehler beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten
Time of India
03-05-2025
- Automotive
- Time of India
The soaring cost of car ownership in Canada, and Trump is one of the reasons
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel It is getting increasingly costly to own and maintain a four-wheeler in Canada . Recent data reveals that the average annual expense of owning a vehicle has surged to $5,497, with Ontario residents facing the steepest costs at nearly $6,000, while those in British Columbia fare slightly better at approximately $4, of Canadians report spending over $7,000 annually on their vehicles.A survey conducted by Leger for Turo Canada indicates that individuals aged 25 to 44 are shelling out an average of $7,029 per year on car-related D'Arbelles of the Canadian Automobile Association highlights that these costs encompass more than just monthly payments."Fuel, maintenance, insurance, and depreciation all contribute significantly," she alone can account for up to 50% of the total cost of owning and operating a situation is further complicated by recent geopolitical developments. US President Donald Trump 's imposition of tariffs on imported steel and aluminum has sent instability through the North American auto tariffs are aimed at reducing the US trade deficit and encouraging domestic production, and have inadvertently led to increased manufacturing costs for vehicles, which are inevitably passed on to analysts warn that these measures could add approximately $6,000 to the price of a new Prime Minister Mark Carney has pledged a $2 billion plan to protect the auto sector from the brunt of these tariffs. However, the effectiveness of this initiative remains to be seen, and in the interim, Canadians continue to bear the financial Canada's survey reveals that 21% of young millennials have utilized car-sharing in the past 18 months, citing affordability and convenience as primary for others, especially those in remote or suburban areas with limited public transportation options, owning a vehicle remains a necessity. More than half of the survey respondents indicated that without access to a car, they would need to change many Canadians, the road ahead is uncertain.
Global News
02-05-2025
- Automotive
- Global News
The costs to own a car in Canada are rapidly rising, in addition to tariffs
Owning a vehicle in Canada is rapidly getting more expensive — in some cases, at a faster rate than inflation — and could rise 25 per cent with tariffs and inflation, a new survey suggests. The Leger survey for Turo Canada, a car-sharing company, says the average cost to own a car or truck has gone up nine per cent since last year, and experts say that will go up even more given the economic outlook. Economists and financial analysts say U.S. President Donald Trump imposing tariffs on virtually all countries and sparking a trade war will ultimately result in higher prices for consumers, including cars and trucks. Although Prime Minister Mark Carney's new government has pledged to work to blunt as much of the tariff pain as possible, including for the auto sector, it will be some time before prices reflect any improvements, the survey suggests. Story continues below advertisement Until then, Canadians should expect car ownership to become even more of a financial burden as the cost rises even more rapidly. 1:31 Carney slams Trump tariffs, unveils $2B plan to shield Canadian auto sector According to the survey results, the average Canadian spends $5,497 to own a vehicle annually, with Ontario the highest at close to $6,000 and British Columbia the most affordable near $4,500. Plus, one out of three respondents say their expenses exceed $7,000 per year. Get weekly money news Get expert insights, Q&A on markets, housing, inflation, and personal finance information delivered to you every Saturday. Sign up for weekly money newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy Those who own vehicles reported that of their monthly net income, an average 14 per cent goes towards car-related expenses. Younger drivers are paying significantly more, with those aged 25 to 44 paying an average $7,029 per year, while those over 65 pay roughly half that at $3,728. Household size and income also play a role as those with higher incomes and/or children typically own more than one vehicle. Story continues below advertisement And it isn't just about paying for the car itself through financing or leasing, 'One of the biggest costs is your fuel. Another thing is maintenance. Everyone has to replace tires at one point, the brakes, oil changes — we don't necessarily put that all in the bucket of what it's cost to own our vehicle,' says Kristine D'Arbelles at the Canadian Automobile Association. 'You also have your insurance costs and that number varies significantly.' Then, if you want to eventually sell or trade in your vehicle, D'Arbelles notes the importance of factoring in a vehicle's depreciation over time. 'Depreciation is if you are expecting to sell your car … knowing that you're not going to be able to sell it for the same amount that you bought it,' she says. 'It can be up to 50 per cent of the cost of owning and operating your vehicle.' Those who already own a vehicle are also expected to face some rising costs in the face of Trump's tariffs. 2:09 Honda staying in Canada for 'foreseeable future' despite U.S. tariffs The overwhelming majority of Canadians still rely on using a vehicle, with more than half of survey respondents saying that without access to one they would need to change jobs. Story continues below advertisement Alternatives certainly exist, such as public transit, taxis and ride-hailing services, as well as walking or biking where possible. However, not everyone has these options available, especially those who live in more remote or suburban areas or where public transportation isn't satisfactory. Forty-one per cent of respondents said they wish there were better transportation options so they wouldn't need a car at all.
