Uber將從"帶駕"領域進入"自駕"領域
Uber to Enter the "Self-Drive" Sector from the "Chauffeured" Sector

海擇短評 Haize Comment：

Uber將從"帶駕"領域進入"自駕"領域

近期，網約車共享平台Uber(NYSE: UBER)公告與P2P共享租車平台Turo建立合作關係，正式從"帶駕"領域進入"自駕"領域；這也意味著，Uber在全球旅遊領域的布局，確定先從租車領域入場，版圖原有的強者們將面臨震撼教育。

市值已達1,500億美元的Uber，會從哪個領域建立新的增長曲線，一直是行業重視的焦點。本次Uber宣布將在2025初建立"Uber Rent"平台，從美國、英國、加拿大、澳洲和法國開始，與Turo合作，提供超過1,600種品牌與型號的車輛。這除了顯示Uber認為總值超過千億美元的全球汽車租賃市場，是進入旅遊市場最適合的灘頭堡，也顯示Uber加大了對旅遊市場的投入力度；此前Uber在該領域的布局是歐洲小城市的用船服務與特定高端酒店的禮賓用車。

Turo對Uber的意義，可能遠不如Uber對Turo的價值。Turo是由Shelby Clark創立的點對點(P2P)汽車共享平台，成立於 2010年，總部位於美國加州舊金山，最初名為RelayRides。公司估值目前約在40億至50億美元間，運營模式是基於P2P，允許個人車主將其車輛出租給他人；因此，Turo本身不擁有車輛，根據其公開資料，它的平台上有數十萬輛車可供出租，業務主要集中在美國、加拿大、英國三國。

海擇資本認為，Uber選擇在租車領域與Turo合作，代表Uber在用戶體驗的考慮中，"便利"的優先級高於"低投訴量"。最簡單的例子是還車程序，Turo提供四種還車方式：原租車地還車、指定地點還車、隨地還車(根據車主允許的範圍)、車主自行取車。當然，這些安排具體取決於車主和租客之間的協商，也可能需要額外支付服務費用。但，Turo靈活多樣的還車方式，在便利性上遠高於傳統的商業車隊租賃模式，應會對租賃車領域版圖中現有玩家造成重大影響，比如Avis(NASDAQ: CAR)及Hertz (NASDAQ: HTZ)；而Uber與Turo合作後，在美英加澳法五國外，會選擇投資Turo協助其拓展地域，還是與各國的P2P網路租車玩家合作，則是下一步的觀察重點。

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Haize Capital Insights of the Day

Uber to Enter the "Self-Drive" Sector from the "Chauffeured" Sector

Recently, the ride-hailing and shared mobility platform Uber (NYSE: UBER) announced a partnership with the P2P car-sharing platform Turo, officially marking Uber's entry into the "self-drive" sector from the "chauffeured" domain. This signifies that Uber's global travel strategy will first focus on the car rental market, challenging the industry's existing strong players.

With a market value of $150 billion, the question of which sector will fuel Uber's next growth curve has been a key focus for the industry. Uber has announced that by early 2025, it will launch the "Uber Rent" platform, starting in the U.S., U.K., Canada, Australia, and France. Through its partnership with Turo, Uber will offer over 1,600 brands and models of vehicles. This move not only reflects Uber's view that the global car rental market, valued at over $100 billion, is the most suitable entry point into the travel market but also underscores Uber's increased investment in the tourism sector. Previously, Uber's travel initiatives included small boat services in European cities and concierge car services for specific luxury hotels.

For Turo, the significance of Uber may not be as great as Uber's value to Turo. Turo, founded by Shelby Clark in 2010, is a P2P car-sharing platform headquartered in San Francisco, California, initially known as RelayRides. The company is currently valued between $4 billion and $5 billion. Its P2P model allows individual car owners to rent out their vehicles, meaning Turo itself does not own cars. According to public data, Turo's platform hosts hundreds of thousands of cars for rent, with operations mainly concentrated in the U.S., Canada, and the U.K.

Haize Capital believes Uber's choice to partner with Turo in the car rental sector indicates that Uber prioritizes "convenience" over "low complaint rates" in enhancing user experience. A simple example is the return process. Turo offers four return options: return to the original rental location, return to a specified location, return anywhere (within the owner's allowed range), or the owner picking up the car. These arrangements depend on negotiations between the owner and renter, and may incur additional service fees. However, Turo's flexible return options far surpass the convenience of traditional fleet rental models, potentially disrupting existing players in the car rental market, such as Avis (NASDAQ: CAR) and Hertz (NASDAQ: HTZ). After Uber's partnership with Turo, a key observation will be whether Uber chooses to invest in Turo's expansion into new regions or collaborates with other P2P car-sharing players in different countries.

標籤 Label： Uber Turo Avis Hertz CarRent NASDAQ:CAR NYSE:UBER  P2P CarSharing