Dallas/Ft. Worth-Based Luxury Car Dealer Partners With Flexdrive To Enhance Dealership Business Model And Economics, Meet Growing Consumer Demand

ATLANTA, July 30, 2018 /PRNewswire/ -- Dallas/Ft. Worth-based eCarOne and Essence Maserati and Alfa Romeo tapped Flexdrive, a car subscription technology and services company that enables dealers and fleet owners to offer on-demand car subscriptions to consumers via mobile devices, as their technology partner to launch a vehicle subscription program.

Flexdrive, a joint venture between Cox Automotive and fleet management company ARI, will act as the technology platform for both dealerships' car subscription programs, while also providing a consumer marketplace for the dealerships to tap into. Car subscriptions continue to rise in popularity with dealers as margins on used car sales continue to tighten and consumers see some of the longest loan terms in history, increasing interest rates and growing monthly payments for vehicles.

"We provide high-end cars to the Dallas and Fort Worth markets and have a strong customer base that's come to expect quality in our vehicles and service. But many of our customers want variability and variety in what they drive—offering car subscriptions makes that possible while also attracting a new customer base who might not have purchased our cars otherwise," said Motaz A. Rhima, owner of eCarOne and Essence. "Flexdrive is the best subscription partner given their capabilities and proven success in working with other dealerships, and quickly delivering them ROI on the program."

Dealeships leveraging Flexdrive technology have experienced early profitability when implementing vehicle subscription. Flexdrive's value proposition consistently centers on:

• Recurring monthly revenue for dealerships based on subscription vehicles
• Increased fixed absorption
• Data and analytics that support the right mix of cars to mitigate depreciation risk and maximize ROI
• Improved CSI and customer retention

Use of Flexdrive's consumer marketplace—a mobile app that enables consumers to browse and select subscription cars in any given market removing the stress and friction from the buying process—also helps dealers capitalize on changing consumer dynamics and expectations in how consumers engage with businesses and services.

Both dealerships will offer luxury cars as part of the subscription program such as Alfa Romeo, BMW, Lexus, Maserati and Mercedes Benz. The program will also include more standard vehicles like Chrysler and Jeep. The dealerships represent the first in the country to offer high-end Alfa Romeos to consumers. To learn more, visit www.flexdrivedfw.com.

"Dealerships continue to face financial pressure paired with changing consumer demands and an industry that is rapidly evolving," said Jose Puente, CEO of Flexdrive. "Motaz is a thought leader when it comes to transforming the dealership model in a move toward mobility and enhancing his business' economics in a way that also meets the consumer's shifting mentality."

Flexdrive recently announced a partnership with Florida Fine Cars' to roll out AmeriDrive in the South Florida market as well as an international presence with Dribe, Denmark's leading car subscription operator.

About Flexdrive
A joint venture between market-leader Cox Automotive and ARI, a global fleet management company, Flexdrive launched in 2014 with a mission of creating an alternative to traditional car buying and leasing. The company's technology platform and services enable fleet owners and car dealerships to offer inventory for subscription to consumers in their market, as well as internationally. Data provided through the platform gives car subscription operators the insights needed to run and maintain a financially profitable and successful subscription program. Flexdrive also offers a consumer marketplace to dealers where consumers can subscribe to a car directly from their mobile phone, taking the friction out of the car buying process. Visit www.flexdrive.com to learn more or download the app.

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SOURCE Cox Automotive

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