Once floor planning and depreciation are factored in, it still makes sense to put certain new cars on our platform, because off the lot depreciation is less substantial and rental revenues thus offset these costs. On other cars, namely luxury cars, you're absolutely right that it's not profitable to put new cars on our platform (though it still makes financial sense for used luxury cars).
The reason we're targeting institutional owners (i.e. dealerships) rather than individual owners a la Turo is because it's generally less expensive to acquire dealership cars (i.e. much easier to onboard a dealership group with hundreds of cars than to get consumers one by one).
The reason we're targeting institutional owners (i.e. dealerships) rather than individual owners a la Turo is because it's generally less expensive to acquire dealership cars (i.e. much easier to onboard a dealership group with hundreds of cars than to get consumers one by one).