Tesla Model 3 in Century City, Calif. store.
Credit: Brooke Crothers
Tesla is, hands down, the most popular electric car brand in the world.
Recent global electric vehicle sales numbers for June show that nothing even comes close to the Model 3.
But sales numbers don’t tell the whole story.
The rise of Tesla and the Model 3 can also be seen on Turo, a carsharing service that has proven to be popular for those wanting to try out an electric car.
“EVs have been very successful for us,” Turo CEO Andre Haddad told me in a phone interview this past week. “A lot of people want to try the electric vehicle experience,” he said.
“As Turo has scaled so Tesla has scaled,” he added.
The number of Tesla listings on Turo has exploded from just 67 in 2014 to a whopping 10,485 (so far) in 2020, the company said.
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As of summer 2020, the majority of those listings are the Model 3.
For example, in the Los Angeles area — one of the biggest EV markets in the U.S. — on a recent day there were 120 Model 3s* listed on Turo versus 62 listings for the Model S and 49 for the Model X.
The Model 3 is bested in another category, however. The Model X is tops in the earnings category, according to numbers provided by Turo:
Top-earning vehicle makes on Turo for “hosts” (who rent their cars to “guests”):
- Tesla Model X
- Chevrolet Corvette
- Tesla Model 3
- Jeep Wrangler
- Ford Mustang
- Tesla Model S
Average monthly earnings look like this for Tesla brands:
- Tesla Model X:~ $978
- Tesla Model Y: ~ $813
- Tesla Model 3: ~$688
- Tesla Model S: ~$639
Tesla is also popular on Turo for personal budgeting reasons.
For those who purchased a Tesla with a loan, renting out their car for part of the month can help them meet hefty monthly payments, according to Haddad.
For example, typical monthly payments for the Model 3 can be on the high side for a Dual Motor All-Wheel Drive Performance model with prices starting at about $55,000. And the price range is even higher for the Model Y, which starts at $49,990, and the Model X, which starts at $79,990.
“If someone [is] beyond their original budget, it lowers their cost of ownership dramatically,” Haddad said.
*As of August 1, 2020.
The ratio of Model 3 to Model X and Model S listings on Turo is similar in other big EV markets in the U.S. like San Francisco and New York City.
Comments or suggestions can be sent to me via a direct twitter message at twitter.com/mbrookec or mbcrothers at gmail dot com.