DriveItAway Holdings, Inc. Fleet Owned or Under Management Surges 36% Month-Over-Month, as Supply Meets Demand
DriveItAway Holdings, Inc. (OTC: DWAY) reports a 36% month-over-month growth in its owned or managed vehicle fleet from June to July 2024. This surge comes amid lackluster general new and used car sales. The company's unique 'micro-lease to purchase' technology is gaining traction as traditional vehicle financing becomes increasingly challenging for many consumers.
Key factors driving growth include:
- Increased web traffic and partnership with Partners Personnel
- New credit line for fleet financing
- Agreement with Westlake Financial for dealer credit lines
DriveItAway's platform allows customers to drive vehicles without down payments, long-term commitments, or credit score-based approvals, addressing a critical need in the current market where average monthly new vehicle payments have risen to over $756 and vehicle repossessions have surged by 23%.
DriveItAway Holdings, Inc. (OTC: DWAY) riporta una crescita del 36% mese su mese nella flotta di veicoli di proprietà o gestita, dal giugno al luglio 2024. Questo aumento si verifica in un contesto di vendite di auto nuove e usate stagnanti. La tecnologia unica dell'azienda, il 'micro-lease per acquisto', sta guadagnando visibilità mentre il finanziamento tradizionale dei veicoli diventa sempre più complicato per molti consumatori.
I principali fattori che spingono la crescita includono:
- Aumento del traffico web e partenariato con Partners Personnel
- Nuova linea di credito per il finanziamento della flotta
- Accordo con Westlake Financial per linee di credito ai concessionari
La piattaforma di DriveItAway consente ai clienti di utilizzare veicoli senza pagamenti iniziali, impegni a lungo termine o approvazioni basate sul punteggio di credito, rispondendo a una necessità critica nel mercato attuale in cui i pagamenti mensili medi per veicoli nuovi sono saliti a oltre $756 e le segnalazioni di veicoli ripresi sono aumentate del 23%.
DriveItAway Holdings, Inc. (OTC: DWAY) reporta un crecimiento del 36% mes a mes en su flota de vehículos propios o gestionados desde junio hasta julio de 2024. Este aumento se presenta en un contexto de ventas de automóviles nuevos y usados poco destacadas. La tecnología única de la compañía, el 'micro-lease para compra', está ganando impulso a medida que el financiamiento tradicional de vehículos se vuelve cada vez más complicado para muchos consumidores.
Los factores clave que impulsan el crecimiento incluyen:
- Aumento del tráfico web y alianza con Partners Personnel
- Nueva línea de crédito para financiamiento de flota
- Acuerdo con Westlake Financial para líneas de crédito de concesionarios
La plataforma de DriveItAway permite a los clientes conducir vehículos sin pagos iniciales, compromisos a largo plazo o aprobaciones basadas en puntajes de crédito, atendiendo una necesidad crítica en el mercado actual donde los pagos mensuales promedio de vehículos nuevos han aumentado a más de $756 y las recuperaciones de vehículos han aumentado un 23%.
DriveItAway Holdings, Inc. (OTC: DWAY)는 2024년 6월부터 7월까지 소유하거나 관리하는 차량 함대의 전월 대비 36% 성장을 보고했습니다. 이 급증은 전반적인 새 차량 및 중고차 판매가 부진한 가운데 일어났습니다. 회사의 독특한 '마이크로 리스 대 구매' 기술는 전통적인 차량 금융이 많은 소비자에게 점점 더 어려워짐에 따라 그 입지를 굳히고 있습니다.
성장을 이끄는 주요 요인은 다음과 같습니다:
- 웹 트래픽 증가 및 Partners Personnel과의 파트너십
- 차량 함대를 위한 새로운 신용 대출
- 딜러 신용 한도를 위한 Westlake Financial과의 협약
DriveItAway의 플랫폼은 고객이 초기 비용, 장기 약정 또는 신용 점수 기반 승인이 없이 차량을 운전할 수 있도록 하며, 이는 현재 평균 신규 차량 월 지불액이 $756을 초과하고 차량 압류가 23% 증가하고 있는 시장에서 중요한 필요를 충족시키고 있습니다.
DriveItAway Holdings, Inc. (OTC: DWAY) fait état d'une croissance de 36% d'un mois à l'autre de sa flotte de véhicules possédés ou gérés entre juin et juillet 2024. Cette hausse survient en plein contexte de ventes d'automobiles neuves et d'occasion stagnantes. La technologie unique de l'entreprise, le 'micro-bail à l'achat', gagne en popularité alors que le financement traditionnel des véhicules devient de plus en plus compliqué pour de nombreux consommateurs.
Les facteurs clés qui alimentent cette croissance incluent :
- Augmentation du trafic web et partenariat avec Partners Personnel
- Nouvelle ligne de crédit pour le financement de la flotte
- Accord avec Westlake Financial pour les lignes de crédit des concessionnaires
La plateforme de DriveItAway permet aux clients de conduire des véhicules sans acompte, engagements à long terme ou approbations basées sur le score de crédit, répondant à un besoin crucial dans le marché actuel où les paiements mensuels moyens pour les véhicules neufs ont dépassé 756 $ et les saisies de véhicules ont augmenté de 23%.
DriveItAway Holdings, Inc. (OTC: DWAY) berichtet von einem monatlichen Wachstum von 36% in seiner eigenen oder verwalteten Fahrzeugflotte von Juni bis Juli 2024. Dieser Anstieg erfolgt inmitten mangelnder Verkaufszahlen bei neuen und gebrauchten Autos. Die einzigartige 'Mikroleasing zum Kauf'-Technologie des Unternehmens gewinnt an Bedeutung, während traditionelle Fahrzeugfinanzierung für viele Verbraucher zunehmend herausfordernd wird.
Wichtige Faktoren, die das Wachstum vorantreiben, sind:
- Erhöhter Webverkehr und Partnerschaft mit Partners Personnel
- Neue Kreditlinie für die Flottenfinanzierung
- Vereinbarung mit Westlake Financial über Händlerkreditlinien
Die Plattform von DriveItAway ermöglicht es Kunden, Fahrzeuge ohne Anzahlung, langfristige Verpflichtungen oder kreditbewertungsbasierte Genehmigungen zu fahren, was ein wesentliches Bedürfnis auf dem aktuellen Markt anspricht, wo die durchschnittlichen monatlichen Zahlungen für Neuwagen auf über 756 $ gestiegen sind und Fahrzeugbeschlagnahmungen um 23% zugenommen haben.
- 36% month-over-month growth in owned or managed vehicle fleet
- Increased demand for 'micro-lease to ownership' program
- New credit line obtained for financing vehicle fleet
- Agreement with Westlake Financial to provide credit lines for approved dealers
- Potential market of over 50 million consumers with subprime credit
- High interest rates and vehicle prices restricting traditional vehicle purchases
- Tightening credit market affecting potential customers
Philadelphia, PA, Aug. 08, 2024 (GLOBE NEWSWIRE) --
- DriveItAway's owned or managed vehicle fleet grew over
36% month-over-month from June to July, at the same time general sales of both new and used cars show a lackluster increase
- DriveItAway’s organic increase in Web traffic and its partnership with national staffing organization Partners Personnel, has provided increased demand for its micro-lease to ownership “on-ramp” for vehicles, now combined with its recent credit line to finance its vehicle fleet, and the agreement with Westlake Financial to provide credit lines for approved dealers who want to run cars on its platform is increasing vehicle supply, which has led to substantial growth
- As credit tightens and both interest rates and high new car prices continue to restrict a vehicle purchase to those with less than stellar credit, and as the average monthly payment for a new vehicle has risen to over
$756 a month (highlights from Cox Automotive/Moody’s Analytics Vehicle Affordability Index, July 15, 2024) and vehicle repossessions have surged over23% in the US as American’s fall behind on payments (Cox Automotive, as reported by Bloomberg July 16, 2024), DriveItAway continues to focus on the vital sector of the labor market, as there is an explosive need for providing quality personal transportation to get people to work
PHILADELPHIA, PA, USA, August 8, 2024 – DriveItAway Holdings, Inc. (“DriveItAway” OTC: DWAY), an automotive industry leader in new digital mobility platforms with its unique “micro-lease to purchase” technology, continues to gain traction and visibility in its mission to enable all to drive, announces today its tremendous growth in month-over-month vehicle fleet owned or under management, as supply begins to meet the overwhelming demand for its program, as it becomes more and more difficult for average consumers to buy or lease vehicles.
DriveItAway, offers a unique ‘micro-lease to purchase technology,’ allowing customers to drive a vehicle of their choice immediately, without a down payment, long-term financial commitment or approvals based on credit score, always with the option to buy the vehicle at any time. DriveItAway technology is a software platform and app designed for automotive retailers. It reduces the risk associated with subprime or deep subprime credit transactions for both dealers and drivers, leading to satisfied customers and an increase in market share, converting “turn-downs” into happy customers.
“For a long time, the effects of the pandemic constrained vehicle supply, combined, during that period, with high used car values and easy credit, which allowed more people access to purchase vehicles…now however it's almost a ‘perfect storm’ in the other direction, as interest rates are the highest in decades and vehicle prices remain high and credit has tightened dramatically - despite plenty of inventory, fewer people can now afford to buy or replace their vehicle with conventional financing or leasing, and those with poor credit or little cash are virtually shut out of the market, despite a pressing need for personal transportation,” says DriveItAway CEO John F. Possumato.
Continues Possumato, “Now with our platform available to all approved car dealers that are dedicated to expanding market share and enabling their customers that would be turned down for credit to drive away in a new or late model vehicle, I believe we are experiencing the very early stages of sustainable, surging growth for our services all across the US,” continues Possumato, “as the benefits of our program become more visible, the growth sustains itself, as there are very few good alternatives for those shut out of the conventional finance or lease market – our potential market is vast, as millions of old, worn out vehicles a year are still sold through the notorious Buy Here/Pay Here market annually, with typically very bad outcomes for the buyer.”
Possumato adds, “Since approximately 20
Download the DriveItAway app today at DriveItAway
About DriveItAway Holdings, Inc.
DriveItAway Holdings, Inc. 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’ micro lease platform to enable all consumers to drive and acquire new electric vehicles with its “EVs for Everyone” initiative.
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FAQ
What was DriveItAway's (DWAY) fleet growth from June to July 2024?
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