HyreCar is facing an inventory roadblock after its national rollout earlier this month, Chief Executive Joe Furnari told Auto Finance News.
The car-share company added 32,000 drivers to its platform, Furnari said. However, demand is outpacing inventory available as HyreCar only has 720 cars in the marketplace. There’s a “tremendous imbalance of drivers and cars,” Furnari said. To that end, the company is adjusting its attention to partnerships with more dealerships.
“We’re nowhere near saturation at this point, from the owner side, and the dealer side,” Furnari said, adding that studies project a 25% increase in revenue as a result of HyreCar’s expansion to all 50 states.
A week following HyreCar’s national expansion, the company announced partnerships with Stork Driver PA and Reedman Toll Auto Group, which are facilitating that supply-demand imbalance. The three-way partnership is a move to establish a blueprint for partnerships with larger dealer groups in the future, Furnari said.
Langhorne, Pa.-based Reedman-Toll is dedicating a full 14 vehicle showroom parking area, a vehicle service shop, and a drivers’ lounge, available exclusively to rideshare drivers, according to a press release. Additionally, New York-based mobility company Stork Driver PA will provide institutional vehicle supply on HyreCar’s platform.
“[Reedman-Toll Auto Group] is looking to support Lyft drivers in better ways than any other dealers have to date,” said Daryl Kessler, vice president at Reedman-Toll Auto Group, in a press release. Kessler is leading the dealer group’s initiatives.
Additionally, drivers can get a temporary vehicle from Stork Driver PA, which can serve as the first step on a ‘path to ownership.’ A vehicle service area will also be provided for Lyft drivers, so they can be treated on an expedited basis and can avail themselves of discounts and perks,” Kessler added.
Source : AutoFinanceNews
