Getaround, a company that allows vehicle owners to rent out their cars, trucks, and SUVs to others, has announced it will shut down its U.S. operations. The company had acquired HyreCar in 2023, but it is also closing this business.
By halting its U.S. operations, Getaround will now focus on its European business, where it operates in six countries: Norway, Spain, France, Germany, Belgium, and Austria.
In an email to customers, the company asked them to return cars by Wednesday evening. Failure to do so would leave customers personally responsible and without insurance coverage.
Founded in San Francisco in 2009, Getaround received millions of dollars in investment and was supported by various investors. In 2019, the company expanded to Europe by acquiring Drivy and Nabobil.
However, after going public in 2022 through a merger, Getaround faced financial difficulties and had to downsize its workforce in 2023 and 2024. Now, it has decided to shut down its U.S. operations and lay off all its U.S. employees.
Getaround's CEO, AJ Lee, explained that the decision was difficult but necessary, given the company’s liquidity issues, which made continuing operations in the U.S. unfeasible.
