Lyft Rentals started in two locations in the San Francisco Bay Area. The service, which consists of an owned fleet, is now available in one location near LAX.
The announcement comes on the heels of the British Columbian government's recent approval of regulations, licensing, and insurance measures for ride-hailing companies.
Net loss for Q2 2019 was $644 million vs. a net loss of $179 million in the same period of 2018.
The cap was originally implement last August, in an effort to address growing traffic congestion in the city, as a one-year ban on new vehicle licenses.
The study, commissioned by Uber and Lyft themselves, exposes the ride-hailing congestion problem - and it's worse than we thought. However, Uber says the scale "is dwarfed by that of private cars and commercial vehicles."
From a geeky industry insider standpoint, the fact that Lyft is renting fleet to consumers on a daily rate is a big deal. But questions abound regarding the business model and profitability.
Lyft will also add public transit info for nearby counties into its app.
The pilot program will be confined to a small area outside of Phoenix where Waymo has already been testing its autonomous technology.
Consumer Reports said that the ride-hailing companies have not done enough to ensure vehicles in open recalls are being properly fixed.
On its first quarter conference call, Hertz was candid about the impact of Uber and Lyft — as well as the unrealized revenue potential.