Uber Shuts Down US Car Leasing Program After Losses Reportedly Hit $9000/Car
September 28, 2017
Uber’s Xchange Leasing service will no longer be able to lease cars to drivers in the United States. A spokesman Wednesday confirmed to the Wall Street Journal the company was shutting down its car leasing program in the country.
The possible reason behind the decision may be that the company was losing more money in the program than it had bargained for — $9,000 for every car instead of $500 — according to an earlier report. The company hasn’t confirmed if a replacement to the program would be introduced.