Our car owners have requested the ability to set different prices for weekdays versus weekends, and we listened! We’re excited to begin rolling out our new predictive pricing, which will help owners earn more during periods of high demand, like on weekends, and drive rentals during the week by adjusting prices to meet demand.
All of this means more money for our owners!
Pricing driven by demand
We knew we could leverage our own insights into marketplace dynamics to build a smarter, more powerful pricing engine, which will help owners earn even more each month.
With predictive pricing, Getaround will create a unique price for every car on the platform, based on the information owners have provided about their car and our understanding of marketplace dynamics.
Our pricing model takes over 20 unique variables into account when determining the optimal price for each car including year, make, model, and location as well as demand variables such as time of day and day of week. We include the incremental costs of ownership as determined by AAA and other industry standards while pricing a car.
In addition to these variables, owners can control and customize their predictive prices by setting a minimum daily price or minimum trip duration for their car. We will provide guidance on how adjusting these settings may impact an owner’s expected earnings each month.
Proven to increase earnings
Our pricing team has been building and refining our predictive pricing algorithm and owner experience for several months now. We’ve also teamed up with researchers at NYU’s Stern School of Business to conduct an independent study into the impact of this feature.
The results have shown that car owners are earning 20% more each month with predictive pricing.
But don’t just take our word for it…
Ready to give predictive pricing a try and make more money?
Visit your owner dashboard and start earning more right away.