Share
February 3, 2020 10:45 AM, EST

Ryder Expands Truck-Sharing Program COOP

RyderRyder System Inc.

[Stay on top of transportation news: Get TTNews in your inbox.]

Ryder System Inc. will expand its ride-sharing program for trucks to meet growing demand, the Miami-based company announced Feb. 3.

COOP is a peer-to-peer truck-sharing platform that allows commercial vehicle owners to rent idle trucks and trailers to a network of trusted businesses. Ryder launched the platform three years ago, and now it is expanding it into the Dallas-Fort Worth area.

“We are entering the Texas market backed by the success we have already enjoyed in Georgia and Florida, and with new tools for our customers, like our mobile app, which makes the process of sharing equipment much easier on mobile devices,” Rich Mohr, chief technology officer for Ryder Fleet Management Solutions, said in a statement.

Ryder specializes in commercial fleet management, dedicated transportation and supply chain solutions. The company says its Airbnb-like platform for trucks has been supported by the rollout of its new mobile app and the launch of an on-demand liability insurance product.

“The Dallas-Fort Worth area is one the largest trucking markets in the United States, and as COOP gains momentum, so does our customer base,” Mohr said. “We are proud to now offer Texas businesses and fleet owners the opportunity to generate revenue from their idle vehicles.”

COOP allows fleet owners to list their vehicles on the digital platform, set vehicle availability for idle periods, and upon vehicle return, receive guaranteed payments. Any business can list its vehicles on the platform so long as it is vetted. That includes businesses that are not Ryder customers.

Ryder also said that the platform generates average monthly earnings of $3,000 for a single straight truck or $4,000 a month for a sleeper tractor. The company also said that more than 1,300 businesses have joined the program.

Ryder Supply Chain Solutions ranks No. 11 on the Transport Topics Top 100 list of the largest for-hire carriers in North America, and No. 6 on the Transport Topics Top 50 list of the largest logistics companies in North America.

Want more news? Listen to today's daily briefing: