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Lyft is teaming up with Avis

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Posted at 6:54 PM, Aug 06, 2018
and last updated 2018-08-06 16:31:24-04

(CNN/RNN) – Your driver could show up in a rental car the next time you order a rideshare.

Avis Budget Group announced Monday that it's partnering with Lyft.

The partnership will let Lyft drivers reserve a car from Avis directly through the Lyft app.

For Lyft, the partnership is an attempt to gain on Uber, its biggest competitor.

"Our partnership with Avis Budget Group allows us to provide new and existing drivers who are seeking a reliable source of income with more quality options when choosing a vehicle," said Jon McNeill, chief operating officer at Lyft.

For Avis, it's a way to regain market share.

"With a global fleet of approximately 600,000 vehicles, we are well positioned to take advantage of the continued growth in the ride-hailing space by providing on-demand access to a clean, safe and well-maintained vehicle for those who want to become ride-hailing drivers," said Joe Ferraro, president of Avis Budget Group for North and South America.

Ride-hailing services have been hard on the rental car industry. Avis shares are down about 20 percent this year. Shares for its rival Hertz have dropped around 30 percent from last year.

The partnership with Lyft is Avis' latest attempt to evolve with the times.

In 2012, Avis bought Zipcar, a company that lets drivers rent cars for periods as short as an hour.

Copyright 2018 CNN. Raycom News Network contributed to this report. All rights reserved.