Daily Management Review

Asset-Sharing App Of Ryder Is Meant For Commercial Vehicles


03/27/2018


Like ride sharing applications, Ryder develops a sharing app that enables various companies to rent out vehicles for commercial use.



Ryder System Inc is an U.S. company that rents and leases trucks, whereby it revealed about the launch of an “asset-sharing platform for commercial vehicles”. In this manner, a way is being paved for owners to give out their vehicles on rent starting from “vans to big rigs” just like “share cars and homes” connected through an app to the consumers.
 
The new platform of Ryder, called “COOP”, has been under tests from the month of January in the Atlanta, wherein “100 vehicle fleet owners” were involved. The said platform is likely to take an official take off in the month of April, while the company wants to take it to various major U.S. cities in 2019.
 
The Ryder’s C.E.O Robert Sanchez informed that the data gathered from their tests, which involved “200,000 vehicles”, indicated that 25% of these vehicles were idle for over a day within a week’s time. However, the companies using COOP will be charged with “a fixed cost” even then their trucks remain idle. In Sanchez’s words:
“We saw this as a way to take the disruptive trend of asset sharing and ride sharing and apply it to trucks that are not being fully utilized”.
 
The automakers are in a rush to create “car-sharing services” for they believe that in the future the consumers would prefer “short-term use” instead of indulging in owning these assets. Furthermore, the COOP app will be handling “insurance, compliance with federal requirements and payments”, as Ryder’s past similar efforts were “hampered” for these reasons. While, Reuters informed that:
“Ryder’s new service will charge a percentage of the rental revenue”.
 
According to Sanchez, COOP would allow rental range stretching from a day up to thirty days. The app further shows the renters “the location and size of available vehicles in their area”. During the tests phase of COOP, companies like Lake City and LLC were involved. Dixien’s Vice President, Alex Garcia informed that its “two leased 26-foot (8-meter)” is used for hauling parts from Monday to Thursday, and the other three days they “sit idle”.
 
Garcia, using the said app in its test phase, rented the trucks of Dixien when they were left idle and the former stated that “his leasing costs” would reduce heavily if these vehicles were available for rent on “every weekend”.
 
 
References:
reuters.com







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