CANADIANS ARE TURNING PARKED CARS INTO PAYDAY MACHINES — $300M AND COUNTING

While 2025 has provided plenty of economic uncertainty, Canadians have been looking to unorthodox methods to generate revenue for a while now. Take for example, the car-sharing marketplace Turo (think AirBnB, but for cars), which recently announced Canadians have collectively earned more than $300 million on the platform since 2016.

With car ownership costs climbing 9% to an average of $5,497 annually according to Turo's 2025 Car Ownership Index, Canadian car owners are increasingly turning their idle assets into income generators.

"For most Canadians, their cars sit idle 95% of the time, but they don't have to," Bassem El-Rahimy, Turo Canada vice-president, said in a statement.

"Hosting on Turo is giving everyday Canadians a powerful new way to unlock value from what they already own. Whether it's to cover bills, fund passions, or build a business, more people are realizing that their car can work for them, not the other way around."

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Canadian car entrepreneurship

According to Turo, some Canadian hosts have listed between five and 50 vehicles.

Canadian hosts are earning an average $3,500 during peak summer months, with many using the income to offset rising costs of living, fund education or build emergency savings.

The milestone comes as Canadians increasingly choose domestic travel options, creating strong demand for unique vehicles in popular destinations. Turo cites Leger data showing 77% percent of Canadians plan to travel domestically, up 8% year-over-year, with car-sharing benefiting from travelers seeking alternatives to traditional rental cars.

Turo launched in the Yukon in June, and is available everywhere else in Canada except for the Northwest Territories. Internationally, it is available in the U.S., U.K., Australia and France.

Read more: ‘You’re going to live on beans and rice’: This senior told Dave Ramsey she has debt and zero savings — here's his response plus 3 retirement saving tips to get you back on track

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

2025-08-07T10:38:25Z