Toyota Takes Stake in UBER

Discussion in 'In the News' started by xcel, May 29, 2016.

  1. xcel

    xcel PZEV, there's nothing like it :) Staff Member

    [​IMG] [​IMG] More car sales despite non car owning millennials?

    [​IMG]Wayne Gerdes – CleanMPG – May 29, 2016

    Toyota and Uber announced they are moving into a partnership with a memorandum of understanding (MOU) starting with trials, in the world of ridesharing in countries where ridesharing is expanding. As part of the partnership, Toyota Financial Services and Mirai Creation Investment Limited Partnership are taking a stake in Uber.

    Against the backdrop of rapidly evolving car usage trends, the development of mobility services in new areas, including ridesharing and car-sharing, has gathered pace globally. Through this agreement, Toyota and Uber will accelerate further talks in aiming to establish new services and to offer new value – read sales and income – to customers.

    As part of the partnership, the companies will create new leasing options in which car purchasers can lease their vehicles from Toyota Financial Services and cover their payments through earnings generated as Uber drivers. The leasing period will be flexible and based on driver needs. This initiative builds on Uber's current Vehicle Solutions program.

    Toyota and Uber will explore collaboration in developing in-car apps that support Uber drivers and establishing a special fleet program to sell Toyota and Lexus vehicles to Uber drivers.

    2016 Toyota Prius Pkg. 4

    A perfect Uber vehicle - Good front to rear seat leg and knee room.​

    In my experience with Uber, there are still a lot of inefficient vehicles being used as well as Prius family ones. I would love to see more Prius liftbacks, vs and cs moving people via Uber and hopefully this will be a future focus. Hmmm.
  2. Mendel Leisk

    Mendel Leisk 2010 Prius (CAN Touring) Staff Member

    Over at Priuschat member grumpycabbie (british) was saying the 2016 wouldn't make a good cab. I don't think he elaborated though. Less rear head room, seating positions lower to the ground? Not sure.
  3. Carcus

    Carcus Well-Known Member

    I've ridden in Gen2 and 3 Prius taxis. I thought they were well suited for the job (haven't sat in Gen iv yet). So, If I was really looking to invest in a car to make uber/lyft money, I think I'd look for a good used Gen 3 (didn't care for the way Gen 2 handled) , I'd be more concerned about condition/mx history than miles as we've seen plenty of examples of these cars running up over 300,000 on the original battery.

    There's lots of these out there with about 100,000 miles for $10k or less [actually, kbb has a 2010 with 110,000 @ about $7,000]. A somewhat active uber part-timer (10 hours/week(?)) ought to net that in a year. If you live in a solid "uber market" city and were willing to put the time in, you could probably do a lot better than that.

    On a new car? The Toyota lease partnership might be an option to supplement your lease, .. but paying the whole thing off? ... I dunno.

    /disclaimer .. my calculations are based mainly from internet info, .. ymmv
    Last edited: May 31, 2016
  4. xcel

    xcel PZEV, there's nothing like it :) Staff Member

    Hi All:

    Toyota's $500 million investment in Uber on April 19, 2019 when Uber had a pre-IPO valuation of $76-billion IPO is worth just $330 million today. Fortunately Toyota makes between $10 to $15-billion per year in after tax profits so this one investment is just a scratch even if it goes bankrupt. I doubt that will happen either.

    Uber Stock Price - Nov. 27, 2019


    BillLin likes this.

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