HyreCar Seeks More Dealer Partners Amid Inventory Imbalance | Auto Finance News | Auto Finance News

HyreCar Seeks More Dealer Partners Amid Inventory Imbalance

HyreCar, which announced earlier this month that it was expanding its service nationally, is facing a car inventory shortage, Chief Executive Joe Furnari told Auto Finance News. The car-share company added 32,000 drivers to its platform last month. Furnari said. However, he said, HyreCar has only about 720 cars available. There’s a “tremendous imbalance of drivers and cars,” Furnari said.

To alleviate its car shortage, HyreCar is looking to form more partnerships with dealers and vehicle rental companies, adding to its roster that already covers Cleveland, Dallas, New Orleans, Atlanta, among others. “We’re nowhere near saturation at this point, from the owner side and the dealer side,” Furnari said.

Among its new partnerships is a joint deal with Stork Driver PA, which rents vehicles to ride-share drives, and Reedman-Toll Auto Group, a dealer in Langhorne, Pa. Stork Driver PA will provide vehicles through HyreCar’s platform. Meanwhile, Reedman-Toll is building out a hospitality area for rideshare drivers and dedicating service bays. The new program will be located within Reedman-Toll’s 300-acre compound, which is stocked with 6,000 used-cars that will be available to rent to Uber and Lyft drivers, Furnari said.

“[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 statement. Kessler is leading the dealer group’s initiatives. It is uncertain at press time if Reedman-Toll’s new services will be made available to both Lyft and Uber drivers.

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