Turo’s 2025 Car Ownership Index Shows a 9% Increase in Car Ownership Costs • iPhone in Canada Blog

Turo has released its Car Ownership Index report for 2025. The fourth annual benchmark study from the peer-to-peer car-sharing company outlines habits and trends regarding car ownership in Canada. This year’s Car Ownership Index states that car ownership costs have increased by 9 percent year-over-year (YoY).

The Car Ownership Index report for 2025 states that in comparison to last year, car ownership costs have increased 9 per cent, rising from $5,025 to $5,497 annually. According to Turo, this has led more than half of Canadians to make adjustments to reduce car-related expenses. It’s claimed that 42 percent of Canadians have been forced to make sacrifices in other areas of their lives to accommodate the rising costs of car ownership.

The report goes on to state that 48 percent of Canadian car owners believe that they’d rather pay for a car only when they need it. On average, a single-owned vehicle sits unused 95 percent of the day or around 22.5 hours. 41 percent of Canadians wish they had better local transportation options to avoid the need for a vehicle. However, 71 percent of Canadians still feel as though they can’t live without a car.

Turo, of course, provides an alternative to owning a vehicle in Canada. With peer-to-peer vehicle sharing, there are options for those who choose not to own a vehicle in Canada. According to the most recent data, 87 percent of those who have tried car sharing say they would use it again. This figure is up eight percent in the past 18 months. Those who host vehicles are claimed to make over $3,500 on average across the summer months.

“With life getting so much more expensive, Canadians are looking for more ways to save on car expenses and supplement the cost of ownership. That’s why alternative options like car sharing continue to grow in popularity,” Bassem El-Rahimy, Vice President of Turo, said in a press release.

Some other key points of data regarding car-related expenses include a startling average of expenses exceeding $7,000 amongst one-third of Canadians. On average, according to Turo, 14 percent of monthly expenses go towards vehicle expenses for Canadians who own a vehicle.