Getaround abruptly shuts down US car-sharing operations

Getaround, the peer-to-peer car-sharing platform, has declared the sudden termination of its operations in the United States, resulting in the dismissal of nearly all employees based in the country. This decision was reached during a board meeting held on February 7, 2025, with most staff expected to finish their duties by February 14, 2025. The company attributed this action to persistent liquidity issues, which have made the continuation of U.S. operations unfeasible.

Established in 2009, Getaround facilitates connections between vehicle owners and renters via its platform, providing an alternative to conventional car rental services. In 2019, the company broadened its market presence by acquiring the European car-sharing platform Drivy for $300 million, which allowed it to enter markets in France, Germany, Spain, Austria, Belgium, and the United Kingdom. However, despite these strategic moves, Getaround encountered considerable financial challenges in the United States.

Following the shutdown, AJ Lee, the interim CEO and COO of Getaround, declared his resignation, highlighting the company’s commitment to enhancing profitability in Europe. The organization intends to persist with its operations in European markets, where it holds a prominent position in the car-sharing industry.

The shutdown has caused numerous customers and hosts to urgently seek alternative options. Renters who have current reservations are encouraged to return their vehicles without delay to mitigate any possible liability for damages. All future rentals have been canceled, and the company has not yet disclosed information regarding refunds or the management of pending claims.

This development represents a notable transformation within the car-sharing sector, underscoring the difficulties that companies encounter in attaining financial viability. With Getaround’s withdrawal from the U.S. market, rivals such as Turo and conventional car rental services may experience a surge in demand. The complete ramifications of Getaround’s choice on the car-sharing environment are yet to be determined.