Uber plans to wind down its U.S. subprime car-leasing division to stem unsustainably high losses, a major retreat just two years after starting the business.
NYS Entity Status
NYS Filing Date
AUGUST 01, 2014
NYS DOS ID#
NYS Entity Type
DOMESTIC BUSINESS CORPORATION
2014 - CARS R US LEASING INC
AROUND THE WEB
- Uber Plans to Wind Down U.S. Car-Leasing Business
Tuesday Aug 8, 2017
- How to end a car lease
By firstname.lastname@example.org (Fox News Online) - Friday Aug 4, 2017
- Uber planning to sell or consolidate car leasing program
By Olivia Zaleski - Tuesday Aug 8, 2017
The ride-hailing company’s board determined Xchange Leasing, a wholly owned subsidiary, is unsustainable and should be sold or consolidated into a smaller unit within Uber, according to a person familiar with the plans.Xchange currently offers 40,000 vehicles for lease through 14 showrooms in the U.S. As many as 500 jobs could be affected by the sale of the company, according to the Wall Street Journal, which reported the news Tuesday.Following a stream of controversies earlier this year, investors have urged the San Francisco company to consolidate its business and cut costs in preparation for an eventual public offering.[...] last week, the Wall Street Journal reported that Uber knowingly leased unsafe cars in Singapore that were prone to catch fire.Uber’s board, which is acting in the absence of a chief executive officer, decided to close out the Xchange program before they had been briefed on the safety matter in Singapore, according to the person familiar with the discussions.
- Smoke, Then Fire: Uber Knowingly Leased Unsafe Cars to Drivers
Thursday Aug 3, 2017
Chasing breakneck growth, the ride-hailing giant bought Honda SUVs in Singapore subject to a recall. Then one caught fire, sparking a panic at the company. The episode, which wasn’t previously public knowledge, adds to the list of crises that unfolded at Uber on the watch of former Chief Executive Travis Kalanick.
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By SARAH LYALL - Tuesday Sep 5, 2017
Highlights posted on the U.S. Open’s website and app are selected by Watson, the IBM computer, using visual and audio information from matches.