HyreCar and DriveItAway announce strategic partnership to extend carsharing to Automotive Dealers

HyreCar Inc. and DriveItAway announced a strategic partnership allowing automotive retailers across the United States to access a collaborative turnkey solution to generate additional revenue through Mobility as a Service and Shared Mobility/Subscriptions.

The Mobility as a Service market is expected to grow in the US to a $358.35 billion market by 2025, from a $38.6 billionin 2017. The HyreCar-DriveItAway partnership allows DriveItAway affiliated franchise and independent car dealers to immediately list their vehicles on the HyreCar platform, extending a new opportunity to dealers in 34 states plus Washington, D.C.

"Our program offers the best of everything, today, for a car dealer," says John F. Possumato, long time automotive retail industry veteran and founder and Chief Executive Officer of DriveItAway. "By providing a new, easily managed Shared Mobility department, our dealers are preparing for the "Mobility as a Service" future which will allow a quick and efficient way to create new scalable revenue streams. Most importantly, we are also introducing a new customer base for the store for vehicles sales and fixed operations. As a "˜path to ownership' to our driver customers, we are enabling new buyers to the store, not "˜poaching' current prospects in the market."

DriveItAway has positioned itself as an important player in dealership-focused shared mobility solutions. Possumato, through DriveItAway conceived and created the "Lyft Your Down Payment" program and the "Drive For Your Down Payment" program, where car dealers can implement a rental program for ridesharing drivers who want to raise money to buy a vehicle. These programs create a "path to ownership" which, in turn, leads to more vehicle sales and more fixed operations revenue for the store.

"This partnership underscores our mission to building roads to financial freedom," said Joe Furnari, Chief Executive Officer of HyreCar. "We are focused on creating strategic alliances that expand our supply of vehicles, which will provide us with the infrastructure to scale. We are excited to become the franchise solution for vehicle suppliers who want to tap into the growing mobility industry."

Possumato adds, "HyreCar recognised the vital demand for carsharing for ridesharing and DriveItAway was the first company to recognise that automotive retailers, and the facilities and skills they have in place, are a critical part of shared mobility of the future. Over the last few months, we have been overwhelmed with dealer interest in our program all over the US. This partnership is a natural fit to enable all dealers throughout the nation to quickly onboard with a seamless turnkey solution."