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For the second year in a row, peer-to-peer car sharing marketplace Turo has released its Car Ownership Index from Turo, which revealed that the average Canadian car sits idle 96 per cent of the year and over one in 10 Canadian car owners surveyed are willing to list their underutilized vehicle on a sharing marketplace.
The Index is a benchmark study surveying a representative sample of 1,500 Canadians, which analyzes the state of car usage and ownership in Canada.
Financial motivators and economic swings have had a strong influence on consumers’ approaches to car ownership.
Key findings of the 2023 Index revealed:
- Over one in three Canadians (39 per cent) surveyed are less likely to buy or lease a vehicle this year due to recent rates of inflation.
- Of those surveyed who own or lease a vehicle, but are planning to stop in the future, 55 per cent cited high costs as their main reason for doing so.
- Twenty-four per cent of Canadians surveyed were particularly concerned about monthly payments, citing it as the primary motivator for ending ownership, which is double the 2021 report figure.
With Canadians tightening their belts, those surveyed also revealed they pay an average of $4,810 a year for their vehicle, even though it sits idle 96 per cent of the year. However, when they are using their cars:
More than half (55 per cent) of car owners surveyed who work agree they would have to change jobs if they did not have a car.
In addition to commuting, Canadian car owners cite convenience (31 per cent) and the desire for freedom (20 per cent) as the top reasons for having a vehicle.
Agencies behind the Turo Car Ownership Index?
- Public Relations – North Strategic
(click on the link to view the agency’s Vendor Directory listing)
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