Ryder Launches Peer-to-Peer Truck-Sharing Program

Ryder System Inc. is launching a commercial truck-sharing service in Atlanta.

Described as an industry first, the peer-to-peer program allows truck fleets and individual owners to rent idle vehicles to other users. Ryder launched a pilot program in the Atlanta metropolitan area in January with more than 100 fleet owners. The company intends to roll out a larger deployment—including vans, trucks, tractors and trailers—there next month. Several other markets are planned in 2019.

Ryder says there are more than eight million commercial vehicles on U.S. roads, of which about one-fourth are unused for at least one day during the business week. The company estimates that a 26-foot-long truck traveling 100 miles per day could generate $3,300 per month in rental income for its owner.

Fleet owners determine availability for listed vehicles and receive automated payments after the vehicle is returned. 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 24/7 roadside assistance.

The service plans to add a mobile app for Android and iOS users by year-end to supplement its website. A chat feature also is available to handle questions and address maintenance issues.