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  • I love Porsches.

  • Let's say, how many?

  • I have five.

  • Kent Liu owns 11 vehicles, from Porsches to Jaguars and Alfa Romeo.

  • He rents out his fleet on a car-sharing app Turo,

  • frequently referred to as the "Airbnb for cars".

  • I started in 2013. I started with the Honda Accord and I purchased that car specifically to rent out,

  • to test out the peer-to-peer car-sharing model.

  • You know, it was really successful so I figured, why not scale it?

  • I've been adding cars to my fleet ever since.

  • According to Turo, the average monthly earnings for owners on the platform is $720.

  • And if they have more than three cars, they can make over $3,000 per month.

  • The vehicles don't have to be high-end sports cars.

  • Demand just really went off the charts. The 50 Euro Honda was being rented all the time. People loved it.

  • Ann Connolly joined 4 years ago with her 2002 Honda CRV,

  • and has since purchased two additional vehicles to rent out.

  • It wasn't really ever a full-on intention to run the business, the car-rental business, but it just sort of, happened.

  • Since Turo is a peer-to-peer service, they act as the middle man,

  • so they don't own the cars, pay for parking, or servicing.

  • They take care of all the marketing, the back-end support. Insurance is also the key thing that they take care of.

  • Car-sharing will not be a true game changer according to the Boston Consulting Group.

  • Still, they project 35 million people worldwide will use the type of service by 2021.

  • Heads off from just 6 million users in 2015.

  • And it's become far more popular in Europe and Asia than in North America.

  • The way I see it is, if the car is rented out more than 50% of the month, then it's time to get another car.

  • It's all about meeting that demand for these high-end vehicles.

  • Definitely see why I want to try it out.

I love Porsches.

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    Mii Wei posted on 2017/06/05
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