Carsharing marketplace HyreCar says it is benefitting from the continued growth of rideshare and food/package delivery opportunities.
“By partnering with HyreCar, dealers have a turnkey solution to optimize inventory utilization and participate in the incremental revenue opportunities that on-demand transportation trends offer today,” HyreCar chief executive officer Joe Furnari said in a news release.
Noting that growth in vehicle supply is critical, HyreCar on Monday reported a significant expansion of its available car inventory. The company said it has onboarded two large multi-location dealerships.
Collectively, those dealerships have already added more than 200 cars in the fourth quarter.
HyreCar says its recent expansion to gain platform vehicles from major fleet and dealer partners came through what it described as consistent growth of drivers needing a vehicle for new gig-economy opportunities.
The company expects that it will soon collectively offer more than 1,000 cars on the HyreCar marketplace. That would result in a 50% increase in available cars on HyreCar’s platform.
That number is in addition to 700 new vehicles that the platform added in September. The company said working toward that growth in vehicle supply is important as HyreCar dealers experience utilization rates of 85% and higher. The company said that drives active daily rental days to new highs.
Furnari noted that one of the company’s new dealer partners runs seven locations within HyreCar’s top market in the Southeastern United States. He said the other partner has scalable operations in three different states in a large southern market, which he described as “precisely the type of dealer groups that can best benefit from our platform.”
He added, “Our ability to add this many vehicles in key markets from just two dealership groups validates our scalable marketplace solution and the need for HyreCar’s solution.”
HyreCar chief operating officer Henry Park said dealerships are an ideal partner, possessing brand recognition and proximity to HyreCar drivers at the local level.
“Additionally, HyreCar’s scalable platform enables our partners to enjoy immediate ROI from their standing inventory,” Park said.