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12-27-2017, 05:31 PM
Uber is selling off its auto-leasing business
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After confirming (https://www.wsj.com/articles/uber-confirms-it-is-shutting-down-u-s-car-leasing-business-1506531990) the closure of its auto-leasing business, Xchange Leasing, Uber is now reportedly selling it, according to The Wall Street Journal (https://www.wsj.com/articles/uber-to-sell-u-s-auto-leasing-business-to-startup-fair-com-1514284201).
The buyer? Car ownership startup Fair.com (https://www.fair.com/).
SEE ALSO: Taxify launches in another country to challenge Uber's ride-sharing dominance (http://mashable.com/2017/12/11/taxify-launch-australia-uber/)
Uber announced in September that it would be shutting down Xchange Leasing, its Delaware-based subsidiary which partners with auto dealerships to offer vehicle leases to U.S. Uber drivers.*
The leasing business currently sports a net book value of $400 million made up of over 30,000 vehicles, according to WSJ (https://www.wsj.com/articles/uber-to-sell-u-s-auto-leasing-business-to-startup-fair-com-1514284201), but has suffered heavy losses — Uber was reportedly losing $9,000 per car in August. Many of these cars owned by Xchange Leasing have been auctioned off over the last few months. Read more... (http://mashable.com/2017/12/26/uber-selling-auto-leasing-business/)
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After confirming (https://www.wsj.com/articles/uber-confirms-it-is-shutting-down-u-s-car-leasing-business-1506531990) the closure of its auto-leasing business, Xchange Leasing, Uber is now reportedly selling it, according to The Wall Street Journal (https://www.wsj.com/articles/uber-to-sell-u-s-auto-leasing-business-to-startup-fair-com-1514284201).
The buyer? Car ownership startup Fair.com (https://www.fair.com/).
SEE ALSO: Taxify launches in another country to challenge Uber's ride-sharing dominance (http://mashable.com/2017/12/11/taxify-launch-australia-uber/)
Uber announced in September that it would be shutting down Xchange Leasing, its Delaware-based subsidiary which partners with auto dealerships to offer vehicle leases to U.S. Uber drivers.*
The leasing business currently sports a net book value of $400 million made up of over 30,000 vehicles, according to WSJ (https://www.wsj.com/articles/uber-to-sell-u-s-auto-leasing-business-to-startup-fair-com-1514284201), but has suffered heavy losses — Uber was reportedly losing $9,000 per car in August. Many of these cars owned by Xchange Leasing have been auctioned off over the last few months. Read more... (http://mashable.com/2017/12/26/uber-selling-auto-leasing-business/)
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