“While we focus on entry level EV vehicle enablement, we recognize that there is demand right now for our fast & easy subscription with optional ownership program for luxury cars like the Polestar 2,” John F. Possumato, Founder & CEO, DriveItAway Holdings Inc.
PHILADELPHIA, June 01, 2022 (GLOBE NEWSWIRE) -- DriveItAway Holdings, Inc. (“DriveItAway”) ( CLCN), the industry leader in automotive dealer new mobility platforms with its revolutionary subscription to purchase technology, founded by serial auto retail entrepreneur, John F. Possumato, has launched an electric vehicle subscription to ownership program with the Polestar 2, for anyone who would like to drive and try a new luxury EV vehicle before making a commitment to purchase.
“We found that many people are hesitant to make a commitment to buy a brand new EV,” says John F. Possumato, Founder & CEO of DriveItAway. “We designed the program so that anyone can immediately drive a Polestar 2 with no commitment to purchase, in a fast, easy, and inexpensive way with the vehicle subscription managed entirely through our mobile app. Turn-key and complete, our program includes insurance, maintenance and delivery right to your door, and, only with our unique program, a portion of subscription fees goes towards the purchase price, should you choose to buy the vehicle.”
The DriveItAway program provides new EV manufacturers and legacy OEMs a new distribution channel for their vehicles, as it provides an “infinite test drive” to a full range of consumers, from entry level to luxury buyers, to satisfy a market that is "EV curious" but does not want to make an immediate commitment to purchase. The driver has the right, but not the obligation, to buy the vehicle he or she is driving, with money paid in, given back as a bonus coupon towards the purchase.
User Experiences – Right for the Environment & Personal Finances
Elena Ciccotelli, Automotive Partnerships Manager at Lyft, who recently chose a new DriveItAway Polestar 2 on the program, also found an additional benefit to the process. “Used car values are sky high right now, so I was eager to sell my used car for top dollar,” Ciccotelli says, “but I didn’t want to buy a new vehicle right now during the car shortage, with limited selection and high prices; also I very much support Lyft’s pledge to be 100% EV by 2030, so I made the commitment that my next vehicle would be EV zero emissions.”
Ciccotelli adds, “The DriveItAway app checked off all of the boxes, it gives me a new Polestar 2 EV immediately, with no commitment, to drive as long as I like, with the option to buy with the money I paid in – it truly seems like the best of everything, and gave me the ability to sell my used car at top dollar today – it’s a great way to get green by going green.”
Driving without Car Debt or Long Term Obligations
Matthew DeSantis, a recent college graduate, had a different but similar way of being both environmental and financially responsible. “My education was expensive, and I have a lot of student debt, so while I need a car right now to get to work, the last thing I need is more debt to buy a car, especially today with the current record high prices,” says DeSantis. “At the same time, I wanted to go green as zero emissions is important to me.” DeSantis confirms, “DriveItAway was the best alternative with no long term financial commitment – perfect for me.”
DriveItAway Subscription with Optional Purchase, the Program for US EV Adoption
DriveItAway’s EV subscription program is now starting in the greater Philadelphia/New Jersey area with the Polestar 2, but will soon offer a full range of EVs, including Chevrolet Bolt/Bolt EUVs, Nissan Leafs and even Ford Escape Plug In Hybrids, throughout the United States. DriveItAway’s unique ‘EVs for Everyone’ program is the perfect “vehicle” to reduce the barriers to EV adoption for all drivers, perfect for people who are interested in an EV, but are put off by the higher initial cost as compared to a gas vehicle or are concerned about suitability and range anxiety.
“The future is zero emission vehicles,” Possumato concludes, “and the future of consumer EV adoption is propelled by a flexible subscription with optional ownership, with the money paid in applied towards the purchase.”
DriveItAway is the first national dealer focused mobility platform that enables car dealers to sell more vehicles in a seamless way through eCommerce, with its exclusive “Pay as You Go” app-based subscription program. DriveItAway provides a comprehensive turn-key, solutions driven program with proprietary mobile technology and driver app, insurance coverages and training to get dealerships up and running quickly and profitably in emerging online sales opportunities. The company is now introducing its ‘subscription to ownership’ platform to enable all consumers to drive and acquire new Electric Vehicles with its “EVs for Everyone” initiative. For further information, please see www.driveitaway.com.
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This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond our control, and may cause actual results to differ significantly from those expressed in any forward-looking statement. All forward-looking statements reflect our good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. We caution investors not to unduly rely on any forward-looking statements. The forward-looking statements speak only as of the date of this press release.
DriveItAway Holdings, Inc.
John F. Possumato
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