The Uber Xchange Leasing This is Uber's car-leasing program that was started in 2015 to assist drivers get into cars and drive for Uber to earn money faster without necessarily qualifying for a loan. The program ended in 2017 with Uber citing losses of $9,000 per vehicle on average.
Uber currently has about 40,000 vehicles in the program, which it leases to drivers. The company had expected to lose about $500 per car but is losing about $9,000 per car, sources told Bensinger. The problem? Being in the car leasing business was harder than Uber imagined. All told, about 500 people work for the unit.