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Ryder to Launch Commercial Vehicle-Sharing Platform

  CRETech  ·  1 minute read

Ryder System Inc. R -1.94% is developing an Airbnb-like marketplace for transportation assets that puts idle commercial vehicles in the hands of users looking to affordably expand capacity.

Ryder, which provides short-term truck rentals and fleet-management services for companies, said Tuesday that during the work week about 25% of U.S. commercial vehicles sit unused for more than a day.

The company’s new service, dubbed COOP, was launched in January in the Atlanta metro area. Ryder said it plans to fully expand the service in the Atlanta area next month and into several other major markets next year.

“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.

COOP is currently a mobile-optimized website, and Ryder said it expects to roll out a COOP mobile app in the fourth quarter.

Over the last decade, “sharing economy” companies, such as room- and house-rental service Airbnb Inc., and ride-sharing service Uber Technologies Inc., have disrupted many industries.