Cox Automotive announced a new joint venture with Holman Enterprises, a global leader in automotive sector services. Both companies are now joint owners of Flexdrive, an innovative new business model that was created within Cox Automotive in 2014 and evolved into a joint venture with Holman Enterprises in early April.
Flexdrive is a vehicle subscription and services platform that enables dealerships to offer vehicle subscriptions as an option alongside buying and leasing. Through Flexdrive, consumers can subscribe to a car via a mobile app within minutes, and drive away without worrying about insurance, maintenance or any of the other activities typically involved in purchasing or leasing a vehicle. They can swap vehicles at any time, giving them the flexibility they need without the commitment of a long-term contract.
“Both Holman Enterprises and Cox Automotive share an appreciation for what it means to move forward and create what consumers want today instead of fitting yesterday’s solutions into today’s demand,” said David Liniado, vice president of consumer mobility at Cox Automotive. “Through this partnership, we are combining the best of both companies to give consumers a new way to satisfy their mobility needs while enabling dealers to get into the mobility market.”
“The modern marketplace is asking for mobility solutions, not just transportation, and we are enthusiastic about working together with Cox Automotive to meet the modern consumer’s needs,” said Brian Bates, president and CEO of Holman Consumer Services. “At Holman, we have always been committed to providing customers with extraordinary service, and giving our customers the opportunity to ‘flex’ in addition to purchasing or leasing is another way we are achieving that goal.”
As a joint venture, Flexdrive will be led by Jose Puente, who has assumed the role of president.
“With Flexdrive, we are rewriting the rules of car ownership,” said Puente. “It is the new way to car, and fueled by the joint support of Cox Automotive and Holman Enterprises, we’ll be bringing this unique offering to more markets throughout the year.”
The first Holman franchise to offer consumers the ability to “flex” is Flexdrive of Cherry Hill, located in Southern New Jersey.
How Flexdrive works:
A consumer downloads the Flexdrive app, selects a vehicle and schedules pick-up/drop-off. With two payment options and no down payment or credit check required, consumers choose when to stop or even suspend the service. Turning the service on or off during the span of use means no unnecessary payments when the car is not a priority. And the weekly or monthly payment covers traditional automotive cost of ownership items like maintenance, roadside assistance, and insurance. Flexdrive addresses the pain points of vehicle purchasing, vehicle ownership and vehicle disposal.
SOURCE Cox Automotive
Edited by: G. Davila