As a car sharing host, your goal is to maximise your return on investment (ROI) while keeping your vehicle consistently booked. At Drive mate, we’ve developed a data-driven pricing guide that serves as a reliable starting point for setting your rates. By analysing tens of thousands of trips over the past few months, we’ve identified pricing strategies that attract more renters and help you optimise earnings.
While our recommended pricing provides a solid foundation, success ultimately depends on how well you adapt to factors like local competition, peak seasons, and the uniqueness of your car.
1. Data-driven pricing that works
Drive mate’s recommended pricing is backed by insights from thousands of bookings, ensuring your car is priced to perform. Cars priced within the recommended range consistently:
Stand out to Guests as excellent value.
Attract more consistent bookings.
Maximise ROI without overpricing or underpricing.
While our recommendations are accurate and reliable, they do not account for seasonal peaks, such as the increased demand during December and January holidays. This is where your judgement comes in - using the data as a guide while considering these fluctuations ensures maximum earnings.
2. Competitive pricing attracts more Guests
Guests often compare vehicles based on value, and pricing plays a critical role in their decision-making process. Listings priced outside the recommended range can appear:
Overpriced: Guests may opt for cheaper alternatives.
Underpriced: Guests might perceive the car as lower value, or you could leave money on the table.
By aligning with Drive mate’s recommended pricing, your car stands out as an excellent value - balancing affordability for renters and profitability for you. This simple adjustment can make the difference between getting consistent bookings and being overlooked.
3. Flexibility to adapt: factors beyond the data
While following our recommended pricing is the easiest and most effective strategy, there are other factors to consider:
Local competition: In areas with many similar cars, competitive pricing ensures your car remains the top choice.
Uniqueness of your listing: If your vehicle is rare in your location—like the only convertible or luxury car—you can likely charge a premium.
Seasonal peaks: During holidays or busy travel periods, adjusting your rates to reflect higher demand can significantly boost your earnings. However, balance is key—stay competitive while maximising ROI.
Traditional rental companies: Keep an eye on their pricing, especially during off-peak seasons when discounts may draw renters away.
4. What the Data Shows
Here’s a snapshot of how different vehicle categories performed in recent months:
Utes (7 years and older)
62% of all demand for utes is when it is priced less than $50 per day.
Demand Drop: Above $80 (only 8%).
Toyota Hiace (7 years and older)
Sweet Spot: $55–$70 (49% of demand).
Low Demand: Above $100 (only 2%).
Small Mid + Light (Less than 7 years old).
Examples are: Toyota Corolla, VW Polo, Hyundai i30, Holden Barina
Sweet Spot: $40–$50 (52% of demand).
Low Demand: Above $70 (only 1%).
Mid sized SUV (Less than 7 years old). Examples are:
Mitsubishi Outlander, Subaru Forester, Nissan X-trail
Sweet Spot: $50–$60 (49% of demand).
Low Demand: Above $80 (only 4%).
These insights demonstrate the importance of pricing within the recommended range to capture demand effectively.
5. Why Recommended Pricing Works
Aligning with Drive mate’s recommended pricing is more than just a suggestion—it’s a proven strategy. Here’s why:
- Maximum visibility for your car.
- Increased bookings, leading to higher earnings.
- A pricing strategy that Guests trust.
Our top Hosts know this—and their results speak for themselves.
6. How to Adjust Your Pricing
Getting started is easy! Follow these simple steps:
- Log in to your Drive mate account.
- Navigate to your car listing settings.
- Review the recommended daily and hourly pricing.
- Adjust your rates to match the recommendations.
- Save your changes—and watch your bookings roll in!
Final Thoughts
Log in to your Drive mate account.
Make the change today and experience how Drive mate’s data-backed recommendations can transform your car-sharing experience.
Navigate to your car listing settings.
Review the recommended daily and hourly pricing.
Adjust your rates to match the recommendations.
Save your changes—and watch your bookings roll in!
Final Thoughts
Maximum visibility for your car.
Increased bookings, leading to higher earnings.
A pricing strategy that Guests trust.
Our top Hosts know this—and their results speak for themselves.
Also read:
Drive mate host social media marketing 101
Drive mate Hosting 101 – the basics for impactful listings
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