Ryder expands truck-sharing platform COOP

Ryder

Ryder has announced the expansion of COOP by RyderTM into South Florida. The truck sharing platform, the first of its kind for commercial vehicles, initially launched in Atlanta in March 2018. COOP allows fleet owners to generate revenue by sharing idle trucks and trailers while providing a new source of rental vehicles from a network of trusted peers. The digital platform is now available in South Florida and expected to be available within the entire state before the end of the year.

COOP is a peer-to-peer sharing platform that allows businesses to simply and safely rent commercial vehicles from each other. Fleet owners can list their vehicles on the digital platform, set vehicle availability for idle periods, and upon vehicle return receive guaranteed payments from Ryder. All COOP users are vetted to ensure they comply with safety and reliability standards.

According to Ryder, companies that have used COOP to share its trucks have generated nearly $7,000 on average since signing onto the platform and several COOP lenders have netted over $30,000 on the platform.

“With close to half a million registered commercial vehicles in Florida and a richly diverse mix of businesses that experience seasonality, the South Florida market represents great opportunities for lenders and borrowers of trucks to connect on COOP to generate revenue from idle vehicles and move business forward,” said Rich Mohr, General Manager for COOP by Ryder. “In Atlanta, we witnessed plenty of success in 2018 where more than 300 companies in the metro area reaped the benefits of COOP and we’re confident this innovative service will be a value to businesses in Ryder’s home state of Florida. I would encourage businesses and fleet owners to explore the marketplace to learn how they can profit from their idle vehicles.”

Source: Ryder