DriveItAway Holdings, Inc (OTC Expert Market: CLCN) Launches Escape PHEV Subscription to Ownership Program with the Chapman Auto Group
DriveItAway Holdings, Inc. (CLCN) has launched a subscription-to-ownership program featuring the Ford Escape Plug-In Hybrid in collaboration with Chapman Auto Group. This initiative aims to make electric vehicle (EV) ownership more accessible and affordable for consumers, particularly those intimidated by upfront costs. DriveItAway's innovative platform enables anyone, regardless of credit score, to drive and potentially purchase their chosen vehicle. The company is also addressing vehicle shortages with short-term subscriptions while awaiting vehicle deliveries.
- Launch of the Ford Escape Plug-In Hybrid subscription program enhances EV accessibility.
- Collaboration with Chapman Auto Group expands dealership partnerships.
- Subscription model allows for lower initial costs and extends access to EVs.
- Delay in filing the Quarterly Report on Form 10-Q may raise concerns regarding financial transparency.
With its “EVs for Everyone” mission, DriveItAway expands subscription to ownership with the Ford Escape Plug-In Hybrid, working with the Chapman Auto Group
“We are privileged to expand our dealer-led subscription to ownership program with the Escape PHEV and with the Chapman Auto Group to make driving and owning an EV truly affordable for all” John F. Possumato, Founder & CEO, DriveItAway Holdings, Inc.
PHILADELPHIA, Aug. 12, 2022 (GLOBE NEWSWIRE) -- DriveItAway Holdings, Inc. (“DriveItAway”) (OTC Expert Market: CLCN), an industry leader in automotive dealer new mobility platforms with its revolutionary subscription to purchase technology, is excited to announce that it recently launched its electric vehicle subscription to ownership program with the Ford Escape Plug-In Hybrid, working with a new dealer partner, the Chapman Auto Group. Focused on enabling all who want the benefits of immediately driving and owning an electric vehicle, DriveItAway is now rolling out the Ford Escape Plug-In Hybrid (“PHEV”) in conjunction with Chapman Auto stores, with eight locations in the greater Philadelphia/New Jersey/Delaware region.
“This is a very special day for us, as not only are we expanding our program to Plug-In Hybrid vehicles with the new Ford Escape, we are also welcoming the esteemed Chapman Auto Group into our dealer focused program and platform, all in our mission to make EVs and PHEVs accessible for everyone today,” says John F. Possumato, Founder and CEO of DriveItAway, “We are privileged to expand our dealer led subscription to ownership program with the Escape PHEV with Chapman Auto Group to make driving and owning an EV or PHEV truly affordable for all.”
Continued Roll Out with EV & PHEV Minded Dealers, Committed to “EVs for Everyone”
The Chapman Auto Group has been serving the Greater Philadelphia community with high quality sales and service for over half a century, with 8 locations, one of the largest auto groups in tri-state (PA/NJ/DE) area, with Ford, Chevrolet, Chrysler, Jeep, Nissan, Lincoln and Mazda franchises.
“One of the main aspects that sets the Chapman Auto Stores apart from the competition is our steadfast commitment to our employees, customers and local communities,” says Keane Storey, Director of Business Development for the Chapman Auto Stores. “We see DriveItAway’s technology and specifically the “EVs for Everyone” program as a way to enable more mainstream people to try out and buy EVs and PHEVs by spreading out the down payment while driving over an extended period of time before making the decision to purchase.
“In addition to the “EV for Everyone” program, we are looking at the DriveItAway platform to help us and our customers navigate the current landscape of vehicle shortages through short-term vehicle subscriptions while customers wait for their ordered vehicles. We think the flexibility of the technology allows dealerships a number of options with current and future inventory levels.”
DriveItAway Subscription with Optional Purchase - the Program for US EV Adoption
The DriveItAway Program is for manufacturers, car dealers and consumers, as it enables all consumers, regardless of credit score or cash down payment, to drive and buy the vehicle of his/her choice.
DriveItAway’s EV subscription program, launched in the Greater Philadelphia area, has now expanded to Connecticut, and Michigan. The Ford Escape PHEV joins the General Motors Bolt/Bolt EUV and the Polestar 2 in the DriveItAway fleet, which will soon be available in many more markets 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.
DriveItAway Quarterly Reports and OTC Markets
DriveItAway acknowledges the delay in the filing of its Quarterly Report on Form 10-Q for the three months ended March 31, 2022 with the Securities and Exchange Commission (“SEC”). The delay has been the result of the complexity of the accounting for the acquisition and disposition of assets that took place during that fiscal quarter. The Company continues to work diligently to finalize and file the Form 10-Q with the SEC within the next couple weeks, and we anticipate on filing our quarterly report on Form 10-Q for the three months ended June 20, 2022 shortly thereafter. Once these reports are filed with the SEC, the Company will apply for reinstatement to the OTCQB market.
About DriveItAway
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. 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.
Cautionary Statement Regarding Forward-Looking Statements
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.
CONTACT INFORMATION:
DriveItAway Holdings, Inc.
John F. Possumato
FAQ
What is the new subscription program introduced by DriveItAway?
What company has DriveItAway partnered with for its new program?
How does DriveItAway's subscription program impact EV ownership?
What is the stock symbol for DriveItAway Holdings?
What are the implications of DriveItAway's delay in filing its Quarterly Report?
