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HyreCar Commercial Solutions President to Speak at Used Car Week along with Noted Industry Leaders on Opportunities for Dealers in Mobility as a Service


John F. Possumato is Chairing a Groundbreaking Presentation on the Most Profitable Opportunities Innovative Dealers are Leveraging Today in Mobility as a Service, with Industry Leaders from Assurant and the NIADA

HyreCar Inc. (HYRE), the carsharing marketplace for ridesharing, announced that John Possumato (DriveItAway/HyreCar Commercial Solutions President), joined by Kunal Malhotra (Assurant Vice President, Product Development and Innovation) and Scott Lilja (NIADA Senior Vice President, Member Services), will conduct a presentation explaining how innovative dealers today are making more money and selling more vehicles leveraging new Mobility as a Service offerings.

Possumato, Malhotra and Lilja will be speaking at Used Car Week on November 13 in Scottsdale, AZ in a panel discussion titled “Make Money and Sell More Vehicles in New Mobility.” Used Car Week (UCW) is a five-day event uniting all corners of the used-car and remarketing industry to discuss current trends, forecasting for the future and how to prepare for the road ahead. The event this year has an array of industry leading speakers, including former CEO of Ford Motor Company Alan Mulally, KAR Auction Services Chairman & CEO Jim Hallet, and Cox Automotive President Sandy Schwartz.

“Many dealers have been offered various vehicle ‘subscription’ models that may not pencil out, and mistakenly think that this is the extent of MaaS business opportunities, but this could not be further from the truth,” says Possumato. “There are many dealers today leveraging the tremendous growth of rideshare companies like Lyft and Uber, substantially increasing revenues and profits and feeding the traditional sides of the retail business, vehicle sales and fixed operations. Our goal is to cut through the jargon and show retailers how to make money today in shared mobility.”

“We are proud to have developed numerous insurance programs that support shared mobility business,” says Kunal Malhotra, who leads the Shared/on-demand economy practice at Assurant. “We are pleased to be at UCW, as information and education on new industry developments and services is a key to innovation for automotive retailers in leveraging future transportation models.”

Adds Scott Lilja, who is in charge of member service partner opportunities at NIADA, “Our dealers are aware that the automotive retail world is changing, and are constantly on the lookout for new ways of doing business supported by technology and the sales and service needs of new transportation providers. We look forward to presenting actual case studies of successful dealers embracing this change and profiting from new service providers.”

“Used Car Week has always prided itself in accomplishing its stated goals: to unite all corners of the used-car industry together to learn, strategize and discuss the goings-on of the remarketing business,” says Bill Zadeits, Used Car Week’s Conference Chairman. “Whether you’re a dealer or an auctioneer, in the C-suite or on the lot, an auto-finance guru or a skip-tracing whiz, even in publishing, tech, marketing or advertising — you name it — if you’re into used vehicles, you have a seat at UCW’s round table to learn and share with us all.”

Used Car Week
Date: Nov. 12-16, 2018
Presentation Time: Nov. 13, 9:15 – 9:45 a.m. ET
Location: The Westin Kierland Resort & Spa, Scottsdale, AZ
Link: https://www.usedcarweek.biz/

For more information or to schedule one-on-one meetings at Used Car Week, please contact Megan Alba at Hyrecar@TheSilverTelegram.com.

About HyreCar

HyreCar Inc. (HYRE) is the carsharing marketplace for ridesharing through its proprietary technology platform. The Company is establishing a leading presence in Mobility as a Service (MaaS) through vehicle owners and institutions, such as dealers and OEMs, who have been disrupted by automotive asset sharing. HyreCar currently operates in 34 states and Washington, D.C., providing a unique revenue opportunity for both owners and drivers. By providing a safe, secure, and reliable marketplace, HyreCar is transforming the industry – one driver, one vehicle, one road at a time. For more information, please visit www.hyrecar.com.

Forward Looking Statements

Statements in this release concerning HyreCar Inc.’s (“HyreCar” or the “Company”) future expectations and plans, including, but not limited to, HyreCar’s partnerships and technology solutions, its ability to add and maintain additional car listings 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.

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