According to the Wall Street Journal, citing people familiar with the matter, Uber will sell its U.S. auto leasing business, Xchange Leasing, to Fair.com.
The Journal said Uber has planned to wind down the business after learning it was losing roughly $9,000 per car, 18 times more than previously believed.
The Journal noted that the net book value of the leasing company’s more than 30,000 vehicles was “roughly” $400 million.
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