September 10, 2019 11:15 AM, EDT

Ryder Expands Peer-to-Peer Sharing Platform

Ryder truck on highwayJohn Sommers II for Transport Topics

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Ryder System Inc. announced the expansion of its peer-to-peer, truck-and-trailer sharing platform, Coop by Ryder, to Orlando, Fla.

Launched in 2018, the asset-sharing platform is available throughout Georgia and across parts of Florida.

The first-of-its-kind digital platform allows fleet owners to generate revenue by renting their idle commercial vehicles to other businesses, providing a new source of rental trucks and trailers to a network of large and small vetted companies, according to Miami-based Ryder.

“Hundreds of businesses have already generated revenue through Coop by sharing their commercial vehicles on the platform,” said Rich Mohr, chief technology officer of Ryder’s Fleet Management Solutions. “Coop aims to bring the same model to Central Florida by giving Orlando, a bustling tourist destination with an abundance of food, beverage and production companies, the same opportunity to generate revenue from idle equipment.”

Fleet owners can list their vehicles on the digital platform, set vehicle availability for idle periods and, upon vehicle return, receive guaranteed payments from Ryder. All Coop users are vetted to ensure they comply with safety and reliability standards. Each transaction is covered by physical damage insurance, a $1 million liability policy and includes 24/7 roadside assistance.

Ryder Supply Chain Solutions ranks No. 11 on the Transport Topics Top 100 list of the largest for-hire carriers in North America. — Transport Topics