The State of Peer-to-Peer Car Rentals: What Hosts Need to Know

The peer-to-peer (P2P) car rental market has undergone major changes in 2025, leaving many rental hosts uncertain about the industry’s future. With Getaround shutting down its U.S. operations and Turo withdrawing its IPO plans, hosts must navigate a shifting landscape that presents both challenges and opportunities.

Getaround’s U.S. Shutdown

Getaround, once a promising player in the P2P car-sharing space, officially ceased its U.S. operations on February 12, 2025. The decision was driven by persistent financial difficulties, including a lack of liquidity, which made continuing operations unviable. Nearly all U.S.-based employees were laid off, and hosts were left scrambling as the platform abruptly canceled all bookings.

Despite exiting the U.S., Getaround will continue operating in Europe, where it generates approximately 45% of its revenue. Hosts in the U.S. who relied on Getaround must now seek alternative platforms such as Turo or Kyte.

Turo’s IPO Withdrawal

Turo, the largest competitor to Getaround, also faced significant changes in early 2025. The company withdrew its long-anticipated initial public offering (IPO), which had been in the works since January 2022. The decision came amid slowing financial growth and recent security concerns after vehicles rented through the platform were involved in two separate criminal incidents on New Year’s Day.

Turo’s financials have also raised concerns. Despite being profitable, the company saw its adjusted EBITDA decline from $81.1 million in 2021 to $48.8 million by the end of 2023. In the first nine months of 2024, adjusted EBITDA further dropped by 46%, and operating income turned negative. The broader economic landscape and uncertainty surrounding tech IPOs also played a role in the company’s decision to remain private.

What This Means for Rental Hosts

For hosts who built their businesses on P2P car-sharing platforms, these developments signal a changing industry. Here’s what to consider moving forward:

1. Diversify Your Listings – If you were exclusively on Getaround, it’s crucial to transition to other platforms like Turo or Kyte to continue generating income.
2. Stay Informed on Turo’s Future – While Turo remains a dominant player, its IPO withdrawal suggests financial and operational uncertainties. Hosts should monitor the company’s performance and any changes to policies or fee structures.
3. Adapt to Market Trends – With fewer P2P rental options, some hosts may explore alternatives such as traditional rental businesses, car subscription services, or direct local rentals.
4. Review Insurance and Liability Policies – The recent security incidents on Turo highlight the importance of strong insurance coverage and background checks on renters. Understanding your liability as a host is more important than ever.

Looking Ahead

The P2P car rental market is experiencing turbulence, but it is far from dead. Turo remains the leading option for hosts, and new players like Kyte may offer fresh opportunities. While the industry faces challenges, those who stay informed, adaptable, and proactive will be best positioned for continued success.

As the dust settles from these major shifts, rental hosts must take strategic steps to protect and grow their businesses in the evolving landscape of car-sharing.