»
1-min read

Uber Evaluating Options to Sale It's US Car-Leasing Business

The plan comes after Uber executives were informed that losses were $9,000 per car on average, steeply above the previous estimates of around $500 per car.

Reuters

Updated:August 9, 2017, 10:35 AM IST
facebookTwittergoogleskypewhatsapp
Uber Evaluating Options to Sale It's US Car-Leasing Business
Representative Image. (Reuters)
Loading...
Ride-hailing company Uber is evaluating options for its capital-intensive U.S. car-leasing business, including a sale of the unit, a source familiar with the matter said. The Xchange Leasing business, which has about 40,000 vehicles and 14 showrooms in the United States, has attracted interest from some buyers who are considering buying it outright, according to the source. Other options include a partnership or winding down the unit by reducing its presence in a number of cities that may lead to lay offs, the person said.

The Wall Street Journal reported earlier on Tuesday that as many as 500 jobs could be affected by the program, representing about 3 percent of Uber's 15,000-employee staff. The plan comes after Uber executives were informed that losses were $9,000 per car on average, steeply above the previous estimates of around $500 per car, according to the report.

Earlier this month, the Journal reported that Uber's Singapore unit knowingly rented its drivers defective cars that were at risk of catching fire.

Also Read: Renault Lodgy Stepway Test Drive Review




Catch the Biggest Newsmakers and the Biggest Newsbreaks on CNN-News18, your favourite English TV news channel. Keep watching CNN-News18 at just 50 Paise per Month. Contact your cable /DTH operator Now!
*Rental / capacity fee of Rs.130/- as charged by cable / DTH operator may apply. **GST extra.

Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results