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Ryder Announces Entry Into Share Economy

AirBnB-style commercial truck sharing service puts idle assets to profitable use

March 28, 2018
COOP by Ryder is an Airbnb-style marketplace for transportation assets

Ryder Systems is rolling out COOP by Ryder that it says will simplify the process and paperwork required to safely share vehicles between business owners. Ryder launched the Airbnb-style marketplace for transportation assets in metro Atlanta in January and plans to enter other markets next year.

According to the company, about 25 percent of U.S. commercial vehicles sit unused for more than a day during a regular work week.

The COOP website lists tractor rentals for $110 per day and trucks from $68 per day. Ryder says fleet owners could generate p to $2,500 per month.

Like other companies using the AirBnB format, COOP is the "matchmaker" in the transaction between businesses. Fleets with vehicles to lend list their idle inventory on COOP, then businesses needing short-term hauling find the fleet's listing. Both owner and renter are vetted by COOP. The rental payment is paid directly to the owner, not COOP. Each transaction includes physical damage insurance, a $1,000,000 liability policy and 24/7 roadside assistance.

“Seasonal and cyclical truck shortages, coupled with fleets’ excess and unused capacity, demonstrates the benefit of having a technology like COOP available in the marketplace.” Ryder Chief Executive Robert Sanchez said.

Ryder expects to have a mobile app ready later this year. Below is Ryder's promotional video.

 

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