MARKET GUIDE RALEIGH, NORTH CAROLINA
CARSHAREACADEMY.COM
CARSHARE
COPYRIGHT & DISCLAIMER © Carshare Academy, 2023 All rights reserved. No portion of this report may be reproduced, stored in a retrieval system, or transmitted in any form or by any means – electronic, mechanical, photocopy, recording, scanning, or any other – without the prior written permission of the publisher. Disclaimers: This report is not published, nor sanctioned by any specific carshare company. It is the sole work and intellectual property of Carshare Academy. The data interpretations, conclusions, and recommendations herein are those of Carshare Academy alone. No data or information confidential and proprietary to any specific carshare company, was used in the creation of this market analysis. All data used is freely available in the public digital domain. This analysis is not intended to be a perfect predictor of host success as many factors determine a host’s success or failure. The data used to create this analysis changes slightly from day to day, even hour to hour with bookings, fleet additions, retired vehicles, etc. This analysis is intended to provide sound recommendations for fleet composition, based on twelve different comprehensive data sets, and provide hosts with the vehicle performance information they need to bring the best vehicles to market in their city based on available data at the time. William Huffhine Carshare Academy
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ABOUT THIS GUIDE Since June of 2021 The CarShare Academy has studied nearly 200 markets to provide hosts with the business intelligence they need to build a fleet consisting of the right vehicles to match the demand pattern for their city. A team of data specialists extracts multiple sets of data from the Turo database, assembles them, and sends the workbook to Lead Coach William Huffhine for review, analysis, and interpretation to complete the Market Guide. This process can take anywhere from 4 to 8 hours depending upon city. No scrapers or crawlers are used to extract this data as such technology can provide erroneous results.
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CONTENTS
04 MARKET DYNAMICS 10 TURO INVENTORY VEHICLE MIX 11 DAILY RATE MIX 13 TOP BRANDS 14 TOP MODELS 16 YOUR FLEET RECOMMENDATIONS 19 PROJECTED SEASONAL TREND 20 CONCLUSIONS AND RECOMMENDATIONS
MARKET DYNAMICS DEMOGRAPHICS Raleigh, the capital of North Carolina, is the second-largest city in the state and the 42nd-most populous city in the United States. According to the United States Census Bureau, the population of Raleigh was 467,066 as of 2019 . The racial makeup of the city is 57.4% White, 32.5% Black or African American, 7.1% Asian, and 2.7% from other races. The Hispanic or Latino population of any race was 9.1%. The median age in Raleigh is 34.2 years, with 25.8% of the population under the age of 18 and 11.6% of the population over the age of 65. The city has a relatively high percentage of young adults and a relatively low percentage of older adults compared to the national average. In terms of education, 86.7% of the population over the age of 25 have at least a high school degree, and 42.4% have at least a bachelor's degree. The city has a highly educated population compared to the national average. The median income in Raleigh is $68,479, and the per capita income is $34,932. The city has a relatively high median income and per capita income compared to the national average. In terms of employment, the largest industries in Raleigh are educational services, healthcare and social assistance, and professional, scientific, and technical services. The city has a relatively low unemployment rate of 2.9% compared to the national average. Overall, Raleigh is a diverse city with a relatively young, highly educated, and high-income population. The city has a strong economy with low unemployment rate.
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