COOP by Ryder® Expands Service to North Carolina

Rhea-AI Summary

COOP by Ryder® has expanded its truck and trailer sharing platform to North Carolina, Tennessee, and California, following successful launches in Georgia, Florida, and Texas. This platform allows fleet owners to rent out idle vehicles, generating additional revenue. The expansion capitalizes on North Carolina's strong logistics industry, benefiting over 21,000 local trucking companies. Since its inception in 2018, COOP has achieved 250% year-over-year growth and now operates in 34 states, offering flexible insurance options for fleet owners.

Positive

• Expansion of COOP platform to North Carolina, Tennessee, and California enhances market reach.
• COOP enables fleet owners to generate revenue through renting idle vehicles.
• 250% year-over-year growth since 2018 indicates strong market demand.

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 of the platform to North Carolina, allowing vehicle owners in the state to utilize the platform. The expansion also includes Tennessee 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. (Graphic: Business Wire)

Fleet owners in North Carolina 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.”

North Carolina is a national transportation hub with a robust trucking and logistics industry, which will benefit significantly from a leading truck and trailer sharing platform like COOP. There are also over 21,000 trucking companies in North Carolina, and a majority are small, locally owned businesses that serve their local communities – by using COOP, these small businesses will be able to keep their vehicles in use and on the roads.

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, { "@context": "https://schema.org", "@type": "FAQPage", "name": "COOP by Ryder® Expands Service to North Carolina FAQs", "mainEntity": [ { "@type": "Question", "name": "What is the latest expansion of COOP by Ryder?", "acceptedAnswer": { "@type": "Answer", "text": "COOP by Ryder has expanded its platform to North Carolina, Tennessee, and California." } }, { "@type": "Question", "name": "How does COOP by Ryder benefit fleet owners?", "acceptedAnswer": { "@type": "Answer", "text": "Fleet owners can rent out idle vehicles through COOP, creating additional revenue streams." } }, { "@type": "Question", "name": "What is the growth rate of COOP by Ryder since 2018?", "acceptedAnswer": { "@type": "Answer", "text": "COOP has experienced a 250% year-over-year growth since its inception in 2018." } }, { "@type": "Question", "name": "How many states does COOP by Ryder operate in now?", "acceptedAnswer": { "@type": "Answer", "text": "COOP by Ryder's platform is now available in 34 states." } }, { "@type": "Question", "name": "What industries benefit from COOP by Ryder's expansion?", "acceptedAnswer": { "@type": "Answer", "text": "The trucking and logistics industry in North Carolina, which comprises over 21,000 companies, benefits significantly." } } ] }

FAQ

What is the latest expansion of COOP by Ryder?

COOP by Ryder has expanded its platform to North Carolina, Tennessee, and California.

How does COOP by Ryder benefit fleet owners?

Fleet owners can rent out idle vehicles through COOP, creating additional revenue streams.

What is the growth rate of COOP by Ryder since 2018?

COOP has experienced a 250% year-over-year growth since its inception in 2018.

How many states does COOP by Ryder operate in now?

COOP by Ryder's platform is now available in 34 states.

What industries benefit from COOP by Ryder's expansion?

The trucking and logistics industry in North Carolina, which comprises over 21,000 companies, benefits significantly.