MARKET GUIDE NEW YORK, NEW YORK
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 According to the United States Census Bureau, the population of New York City was approximately 8,175,133 in 2019. The city is made up of five boroughs: the Bronx, Brooklyn, Manhattan, Queens, and Staten Island. Each borough has its own distinct character and demographics. In terms of age, the population of New York City is relatively young. The median age is 35 years old. The largest age group is 25-34, making up 22.5% of the population. The second largest age group is 35-44, comprising 19.4% of the population. The largest racial group in New York City is Hispanic or Latino, making up 29.7% of the population. The second largest group is White, comprising 28.5% of the population. Black or African American and Asian are the third and fourth largest groups, making up 22.5% and 14.5% of the population, respectively. The remaining 5.8% of the population is made up of other races. New York City is also a global city, with a large immigrant population. Approximately 36.7% of the population is foreign-born, with the largest groups coming from Latin America and Asia. The top countries of origin for immigrants in New York City are the Dominican Republic, China, and Mexico. In terms of education, 44.5% of the population of New York City over the age of 25 has a bachelor's degree or higher. The city is home to many prestigious universities and colleges, including Columbia University, New York University, and the City University of New York.
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