Lyft to open auto repair sites before IPO



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Photo: Lyft

In order to maintain its outsourcing workforce and develop its core business, Lyft plans to open repair shops to repair its drivers' cars.

Sure why not.

The first of these repair centers opened today in San Francisco – a business blog post does not say where exactly – with 34 additional sites planned by the end of this year. of the year. The operator is led by Operations Manager Jon McNeil, who founded Sterling Collision Centers and chaired Tesla's global sales.

Lyft also plans to launch a mobile vans program, which will begin in the Bay Area next month, although details about the role they can play or the types of services they could offer are rare.

Cost and efficiency are the basis of so-called "Lyft driver services", with the company touting its service centers providing "up to 50% [off] on common repairs […] with a 50% faster service goal. At least at this initial location, a wash, an oil change and the rotation of the tires will cost $ 70, with hourly labor charges set at $ 95.

(It remains to be determined if the service is significantly faster, but if you are a Lyft driver in San Fransisco who manages to find this garage, let us know how that experience unfolded.)

Since Lyft already manages a large vehicle rental program, it is logical that the company also includes repairs to these vehicles. And despite the announcement of a potentially costly new arm for his business amid his IPO roadshow, Lyft's initial public offering remains oversubscribed and its stock should be sold at a higher price at his previous estimate of $ 62 to $ 68 a share, according to the Wall Street Journal. .

In a less recent move, Lyft also announced that it would begin offering online credit and debit cards to drivers, which its main rival Uber has been doing for years.

However, it is unlikely that cheap car repairs will reassure the growing number of workers in the industry who are worried about falling wages in the middle of the IPOs for two of the biggest platforms in the industry. (Uber has not yet filed its initial public offering but is expected to do so this year.) Yesterday, Lyft drivers in San Francisco marched at the Omni hotel, where the company held financial meetings, while Uber drivers in Los Angeles were massively gathering in front of one company 's Greenlight to protest a 25% pay cut.

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