Saturday, September 7, 2024

New business model - buy cybertrucks and rent them out for $500 per day

 https://insideevs.com/features/730303/turo-tesla-cybertruck-host-liu/

Unlike Hertz, Turo is an Airbnb for cars. It's a platform where owners themselves put their cars up for rent. They decide the price and on top of that, Turo adds some fees based on vehicle value, booking lead time, duration, etc. It's an entirely different business model. And Turo has gained a reputation for allowing ordinary folks to have some fun by renting supercars and swanky SUVs and sedans—posters of which may exist on their bedroom wallpapers, but are not easily attainable in real life. “People rent on Turo for luxury and for experience, both of which the Cybertruck provides,” Liu said.

Liu’s five Cybertrucks have a high utilization rate. In other words, they're almost always on the road, rented by people who haven’t experienced it as Tesla started official test drives only recently. In four months, the combined rental income from the five trucks has helped him recover the price of an entire truck. “The five Cybertrucks, believe it or not, since April, have made me $120,000 already,” he said pointing his finger to the Turo app on his iPhone screen showing the income generated from the rentals. “Since April, I have made $30,000 on just one vehicle.”

Now he thinks there’s potential to earn even more. So he has ordered 20 more Cybertrucks, bringing his total order book to 25. InsideEVs verified both his earnings on the existing trucks and the number of orders he has placed. He’s also shared his June earnings in a public Facebook post.

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