COOP by Ryder® Expands Service to Tennessee

Rhea-AI Summary

COOP by Ryder® has announced its expansion into the Tennessee market, enhancing its truck and trailer sharing platform. This move allows fleet owners with idle vehicles in Tennessee to rent out their trucks, box trucks, and trailers, unlocking new revenue opportunities. The expansion also includes North Carolina and California, following successful launches in Georgia, Florida, and Texas. COOP has experienced 250% year-over-year growth since 2018. Additionally, its insurance program now spans 34 states, providing flexibility for customers utilizing the platform.

Positive

• Expansion into Tennessee, North Carolina, and California markets.
• 250% year-over-year growth since 2018.
• Insurance program now offered in 34 states.

Negative

• None.

COOP by Ryder®, the leading truck and trailer sharing platform that connects fleet owners with idle vehicles to trusted businesses in need of rental vehicles, today announced expansion into the Tennessee market, allowing vehicle owners and businesses in the state to utilize the platform. COOP is also expanding to North Carolina and California and the announcement comes on the heels of the program’s successful rollout in Georgia, Florida, and Texas.

COOP expands insurance program to 34 states, enabling existing customers with large fleets across multiple markets to leverage the platform wherever they operate. (Photo: Business Wire)

Fleet owners in Tennessee with idle vans, box trucks, tractors, and trailers, can now rent vehicles when they are not in use, creating additional revenue streams for businesses.

“COOP has scaled quickly and we are seeing rapid adoption of the truck and trailer sharing concept,” says Romain Rousseau, general manager for COOP by Ryder. “The platform provides a great way to flex your fleet up and down, something that traditional vehicle ownership doesn’t necessarily offer. Our customers use the platform to rent vehicles to support their demand peaks, but also to generate revenue on their idle vehicles when activity slows down.”

Tennessee is a national transportation and logistics hub and is home to the western hemisphere’s busiest cargo airport, which will benefit significantly from a leading truck and trailer sharing platform like COOP. The Volunteer State also has access to eight interstate highways—reaching 60 percent of the U.S. population within an 11-hour drive or less. With more than 227,000 Tennesseans employed in the transportation, logistics, and distribution industry, COOP will serve thousands of new customers.

Additionally, COOP announced the expansion of its insurance program to 34 states, enabling existing customers with large fleets across multiple markets to leverage the platform wherever they operate. Since its inception in 2018, COOP has experienced 250% year-over-year growth and now counts thousands of vehicles accessible in each state, including vans, box trucks, tractors, and trailers.

“Insurance is another area where we offer flexibility,” adds Rousseau. “Customers either cover the rental with their own policy or can easily purchase daily insurance through COOP’s third-party insurance partner in 34 major markets.”

About COOP by Ryder®

COOP by Ryder® is the largest commercial vehicle sharing platform, connecting fleet owners with idle vehicles to trusted businesses in need of rental vehicles. COOP is available on COOP.com or as a mobile app in the iOS and Android app stores.

About Ryder System, Inc.

Ryder System, Inc. (NYSE: R) is a leading logistics and transportation company. It provides supply chain, dedicated transportation, and fleet management solutions, including full service leasing, rental, and maintenance, used vehicle sales, professional drivers, transportation services, freight brokerage, warehousing and distribution, e-commerce fulfillment, and last mile delivery services, to some of the world’s most-recognized brands. Ryder provides services throughout the United States, Mexico, Canada, and the United Kingdom. In addition, Ryder manages more than 250,000 commercial vehicles and operates more than 300 warehouses encompassing approximately 55 million square feet. Ryder is regularly recognized for its industry-leading practices in third-party logistics, technology-driven innovations, commercial vehicle maintenance, environmentally friendly solutions, corporate social responsibility, world-class safety and security programs, military veteran recruitment initiatives, and the hiring of a diverse workforce. www.ryder.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20210203005009/en/

FAQ

What is the recent expansion of COOP by Ryder in 2023?

COOP by Ryder has expanded its truck and trailer sharing services into Tennessee, North Carolina, and California.

How much has COOP by Ryder grown since its inception?

COOP by Ryder has achieved 250% year-over-year growth since its launch in 2018.

In how many states does COOP by Ryder offer insurance programs?

COOP by Ryder now offers its insurance program in 34 states.

What benefits does COOP offer to fleet owners in Tennessee?

Fleet owners in Tennessee can rent idle vehicles, creating additional revenue streams through the COOP platform.

What types of vehicles can fleet owners rent out through COOP?

Fleet owners can rent out vans, box trucks, tractors, and trailers via the COOP platform.