Flexdrive Expands Its Car Subscription Platform Internationally Through Partnership With Dribe, Denmark's Leading Car Subscription Provider

ATLANTA, July 18, 2018 /PRNewswire/ -- Flexdrive, a car subscription technology and services company that enables dealers and fleet owners to offer on-demand car subscriptions to consumers via mobile devices, today announced a partnership with Dribe, Denmark's leading car subscription operator. A joint venture between Cox Automotive and fleet management company ARI, Flexdrive is the first U.S.-based car subscription company to support dealerships and fleet operators stateside and globally.

Dribe, developed by Semler Innovation, selected Flexdrive as the technology platform on which to quickly build and scale its car subscription program. Dribe provides a significant value proposition to consumers who face substantial taxes when buying a car. Depending on the car and price point, Denmark's taxes on new car purchases range from 85 percent to 150 percent of the purchase price. When paired with changing consumer demands that challenge traditional car-buying and leasing, the Danish company saw a substantial market opportunity.

"Consumer expectations have shifted rapidly over the last few years and the desire for freedom and flexibility across numerous industries is only growing—car ownership is no exception," said Lars Eegholm, CEO of Dribe. "With Flexdrive's technology, we were able to get to market quickly and realize immediate market response."

Flexdrive's technology platform provides fleet owners and/or car dealers full management capabilities to operate a profitable subscription program. Car subscription is similar to other subscription models found in industries such as digital entertainment media. However, vehicle subscription requires strict compliance with local legal regulations, vehicle asset management and insurance all of which are integrated into the Flexdrive platform.

The Flexdrive platform will enable Dribe to move toward its long-term plans to scale the subscriber base by offering a mix of new "everyday rides" alongside "special rides." Makes and models vary from Audi and ŠKODA to Porsche, Volkswagen, SEAT and Lamborghini. The company also plans to add Ducati motorcycles in the near future. Consumers simply download the Dribe app (in Danish) to their phone, register their information, select the car they want and drive, all within minutes. The Dribe subscription takes an all-inclusive approach to pricing by providing the car, taxes, tires, service and repair, insurance and roadside assistance.

"A car should not be an anchor that someone takes on for years, financially or as it relates to changing lifestyle needs, which is increasingly evident in consumer car financing data and reports that show changing consumer sentiments," said Jose Puente, CEO of Flexdrive. "Dribe's demonstrated ability to quickly build a large subscriber base in a short period of time shows the value of car subscription and that the mainstream concept of "Buy, Lease, Subscribe" resonates with consumers globally."

Flexdrive's business model includes: 

• White label solution: As with the Dribe program, Flexdrive partners with a variety of operators domestically and internationally to provide software-as-a-service to support custom branded subscription programs. For organizations with built-in consumer bases and the scale and size to run the program independently, the white-label option provides robust, scalable technology to support a subscription program end-to-end—through its infancy to scale with unlimited subscribers.
• Consumer marketplace (domestic): Currently scaling nationwide, Flexdrive works directly with independent and franchise dealers across the country providing the technology and services necessary to launch and run a profitable subscription program. The Flexdrive consumer mobile app (available on iOS and Android) serves as a marketplace that eliminates the cost and operational burden of developing and marketing a new consumer brand by participating dealers for their local subscription programs. In addition, participating dealers benefit from the aggregated national marketplace to engage consumers. Consumers can easily find a local subscription program in any market.

About Flexdrive
A joint venture between market-leader Cox Automotive and ARI, a global fleet management company, Flexdrive launched in 2014 with a mission of creating an alternative to traditional car buying and leasing. The company's technology platform and services enable fleet owners and car dealerships to offer inventory for subscription to consumers in their market. Data provided through the platform gives car subscription operators the insights needed to run and maintain a financially profitable and successful subscription program. Flexdrive also offers a consumer marketplace to dealers where consumers can subscribe to a car directly from their mobile phone, taking the friction out of the car buying process. Visit www.flexdrive.com to learn more or download the app.

About Dribe
Dribe is developed by Semler Innovation and is a new and flexible way to get a car. Here you subscribe to your car instead of owning or leasing it. All administration is via the Dribe app, and the price corresponds to regular leasing. A membership costs 499 kr. for 30 days, and in addition you pay a fixed price for the car you choose, which depends on the car brand and model. As a Dribe member, you always have access to the latest cars, and there is always new. You also earn loyalty points that can be used to receive extra vehicles for special occasions. And once you have earned enough points, you get several benefits such as reduced self-risk, free delivery and car washes. To learn more, visit www.dribe.dk.

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SOURCE Cox Automotive