LOS ANGELES--(BUSINESS WIRE)--HyreCar Inc. (NASDAQ: HYRE) (the “Company”), the carsharing marketplace for ridesharing, today announced that Brian Allan has been appointed to lead automotive OEM and dealer-based shared mobility initiatives and strategic alliances.
Allan brings 40 years of experience within the automotive industry to HyreCar. During his 30-year tenure, Allan led the growth of the world-renowned Galpin Premier Automotive Group, the luxury division of one of the largest volume dealer groups in the nation, Galpin Motors. Mr. Allan is a respected voice of authority, thought leader, and widely recognized technology advocate in the retail automotive sales and service industry.
“I’m excited to bring an industry veteran of Mr. Allan’s caliber with deep OEM and dealer relationships onto the team. Brian’s passion for our business model will help us capitalize on the significant growth opportunities associated with assisting ridesharing companies like Uber and Lyft to onboard drivers with vehicles, along with other upcoming opportunities,” said Joe Furnari, CEO of HyreCar. “Demand for qualified ridesharing vehicles greatly exceeds current supply and fleet owners like auto dealers are the natural progression of institutional supply. We are now poised to capitalize on that vehicle supply opportunity, which we believe can lead us to exponentially increase our revenues,” added Mr. Furnari.
With the addition of Mr. Allan, HyreCar will continue to leverage its proven business model of carsharing for ridesharing while providing a ‘path to purchase’ for rideshare drivers. “I am excited to join such an innovative and dynamic company during a pivotal point of tremendous growth opportunity. HyreCar offers a complete solution for automotive franchised and independent dealers to earn revenue streams on otherwise idle inventory while selling more cars. In fact, it’s my personal belief that the HyreCar platform will exceed 10,000 vehicles by end of 2019, while helping established dealers enter the Mobility as a Service business,” said Allan. He added, “In the face of potential headwinds for traditional dealer vehicle sales, HyreCar’s platform creates new sources of revenue for every dealership department including new car, used car, parts, finance, and of course, vehicle service, by leveraging their current infrastructure.”
HyreCar Inc. (NASDAQ: HYRE) actively operates in all 50 states plus Washington, D.C. The Company’s Carsharing Marketplace for Ridesharing was created to leverage technology and establish a scalable presence in automotive asset sharing. Drivers, vehicle owners, fleet owners, and automotive dealers alike can utilize the platform to create an opportunity for themselves where one did not previously exist. By providing a safe, secure, and reliable marketplace, HyreCar is the Mobility as a Service solution for carsharing and ridesharing drivers. The HyreCar platform helps private individuals with one car, or companies with thousands of vehicles to leverage available vehicle assets to earn income and additional revenue streams with innovative and proprietary technology.
Forward Looking Statements
Statements in this release concerning HyreCar Inc.’s (“HyreCar” or the “Company”) future expectations and plans, including, without limitation, HyreCar’s partnerships and technology solutions, its ability to add and maintain additional car listings on its platform from car dealers and consumer demand for cars to be used for ridesharing, may constitute forward looking statements for the purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995 and other federal securities laws and are subject to substantial risks, uncertainties and assumptions. You should not place reliance on these forward looking statements, which include words such as “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” or similar terms, variations of such terms or the negative of those terms. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee such outcomes. HyreCar may not realize its expectations, and its beliefs may not prove correct. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including, without limitation, market conditions and the factors described in the section entitled “Risk Factors” in HyreCar’s Prospectus, dated June 26, 2018, and HyreCar’s other filings made with the U. S. Securities and Exchange Commission. All such statements speak only as of the date made. Consequently, forward-looking statements should be regarded solely as HyreCar’s current plans, estimates and beliefs. Investors should not place undue reliance on forward-looking statements. HyreCar cannot guarantee future results, events, levels of activity, performance or achievements. HyreCar does not undertake and specifically declines any obligation to update, republish, or revise any forward-looking statements to reflect new information, future events or circumstances or to reflect the occurrences of unanticipated events, except as may be required by applicable law.