Cazoo is set to acquire Drover, the UK's best-known car subscription platform, in a step set to boost Cazoo's growth in the UK and into Europe.
Drover chief executive speaks to Automotive Management (AM) about the growth potential of car subscription services following COVID-19 and why it needs to forge relationships with more car retailers to satisfy demand.
Drover claims it is "primed to challenge a car retail and ownership model" after attracting further investment of £2.25 million and recruiting a new chief operating officer and chief marketing officer.
London-based car subscription company Drover is aiming to scale up its business in the UK and France after attracting £20.5 million from new investors.
Car dealers need to work harder to offer customers a single payment car ownership solution in a bid to embrace the opportunities of an emerging shift towards subscription services.
Lexus claims that it has unlocked the doors to motorists’ dream garage with the launch of a new vehicle subscription mobility service delivering access to a CT200 hybrid hatchback from £619 per month.
Volkswagen Financial Services and Drover has started a pilot to offer vehicle subscription services to UK customers starting from £514 a month.
Citroen, DS and Peugeot vehicles will be available on a month-to-month car subscription basis after PSA Finance struck up a partnership with mobility provider Drover.
Car dealers will have to “supply new and used cars to service providers” as consumers move away from ownership towards leasing and mobility solutions in the next decade, Auto Trader has claimed.
Drover, the online car subscription service, has said almost a third of UK car buyers (31%) said they would welcome a more flexible way to own a car.
BMW is “in discussions” with its franchisees over the remuneration they will receive from the German premium car brand’s pay-as-you-go mobility partnership with Drover.
BMW has teamed up with mobility provider Drover to offer vehicles on a pay-as-you-go basis from £131-per-week.
An all-in-one car subscription service launched by London-based Drover has seen its “mobility as a service” venture given a £5.5m funding boost in a recent funding round.
