Uber to Sell U.S. Auto-Leasing Business to Startup Fair.com

Mony
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Uber Technologies Inc. has agreed to sell its U.S. subprime auto-leasing business to startup car marketplace Fair.com, people familiar with the matter said, bringing to an end the ride-hailing giant’s failed attempt to attract new drivers who lack regular access to vehicles.

Uber has been seeking a buyer for Xchange Leasing, as the unit is known, since this summer, when it decided to wind down the business after learning it was losing roughly $9,000 a car, 18 times more than previously believed. In September, the company said…

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