HyreCar Launches HyreCar Select Program to Increase Volume and Diversity of Car Supply
While car prices have started to soften, used vehicle values increased by 88% during the pandemic with the higher values disqualifying many newer, desirable vehicles from being listed on the platform. With the launch of HyreCar Select, owners with diversified fleets will now be able to list a greater share of their overall inventory and benefit from gig drivers looking for newer or premium vehicles.
HyreCar Select complements the company’s focus on increasing electric vehicle (EV) supply by providing its drivers and owners access to more EV options while actively reducing carbon emissions in partnership with rideshare and delivery companies. HyreCar Select now allows more EVs, which are typically higher-value cars, to be added to the marketplace.
“Our owner community and drivers have consistently voiced their desire for more makes and models on the platform. With HyreCar Select, we are now able to provide owners with an opportunity to monetize and expand their fleets through a single platform while giving drivers access to cars with greater earning potential,” said
The program is being launched concurrently with new risk-mitigation initiatives that allow the company to better identify and qualify drivers at the point of registration as well as based on platform behavior and rental history. Eligibility for HyreCar Select vehicles will be limited to those drivers who qualify based on set criteria.
The program will launch in
Statements in this release concerning HyreCar Inc.’s (“HyreCar” or the “Company”) future expectations and plans, including, without limitation, HyreCar’s future earnings, partnerships and technology solutions, its ability to add and maintain additional car listings on its platform from car dealers, and consumer demand for cars to be used for ridesharing, may constitute forward-looking statements for the purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995 and other federal securities laws and are subject to substantial risks, uncertainties and assumptions. You should not place reliance on these forward-looking statements, which include words such as “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” or similar terms, variations of such terms or the negative of those terms. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee such outcomes.
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