P2P Car Sharing — a Booming Sector of Economy

The number of vehicles listed on P2P car sharing platforms has skyrocketed in 2021 — here are some reasons why:

  • the COVID-19 pandemic restrictions have eased and people are returning to the pre-pandemic routine,
  • the rental-car shortage has led to sky-high prices — major traditional car rental companies were forced to sell a huge chunk of their fleets during the lockdown,
  • the global microchip shortage has brought the assembly plants to a halt making regrowing rental-car fleets even more difficult.

Having in mind all the hype currently surrounding P2P car-sharing, we at CarSync have come to an idea to give our customers an insight into the top 10 car sharing markets in the U.S. in 2021. We have been particularly curious about how the number of listed vehicles has changed throughout the year and how those changes have reflected the monthly earnings per car. Here are the results of our brief study!

Average earnings per car per state from January to July
Percentage increase in number of cars from January to July

Interesting insights:

  • Check out Hawaii in peak season! In comparison to January this year, the number of listed cars has increased by 686%, while the monthly revenue per car has almost tripled. Astonishing, isn’t it?
  • Undoubtedly, there’s been explosive growth in the number of listed cars in all the markets. However, at the same time, the average monthly earnings per car have risen across the board!
  • Car sharing has expanded to states where it was almost non-existent before. Alaska is a hidden treasure for hosts where the number of cars has increased by 40x and average earnings per car are completely off the charts with $2000 in July.

January generally tends to be the worst month regarding the average monthly revenue, and this year, due to the pandemic restrictions, even more so. It is not that easy to pinpoint the month with the highest revenue per car, but we could say that the season started in May and reached its peak in July in most markets.

As the saying goes, numbers don’t lie, so keep up the momentum and use the figures to your advantage. You’ve got a powerful ally — CarSync! We’re here to support your business and make you more competitive in the booming P2P car sharing market.

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