Uber Is Selling Its Money-Losing Car Lease Business
Published on December 26, 2017 at 11:03PM
According to The Wall Street Journal, Uber is selling its Xchange Leasing unit to the car marketplace Fair.com. “It reportedly won’t be a clean break,” reports Engadget. “Uber will both take a stake in Fair and point would-be drivers to the site through its app. Fair, in return, will offer jobs to roughly 150 workers affected by the switch. Other companies in the running had included Avis Budget Group (yes, the car rental agency), activist investor Carl Icahn’s self-titled Icahn Enterprises, Innovate Auto Finance and two capital investment firms.”
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