DriveItAway Holdings, Inc., a dealer-focused mobility platform, announced the launch of its electric vehicle subscription to ownership program with the General Motors Bolt and Bolt EUV. Just a month ago, it also unveiled a Polestar 2 EV subscription program.
With a goal to enable those who want the benefits of driving and owning an EV the ability to have one today, DriveItAway's announcement comes on the heels of General Motors' substantial price decrease of the upcoming 2023 Bolt/Bolt EUV.
“Mary Barra, CEO of General Motors, pointed out recently in a Yahoo! Finance interview that most EVs sold in the U.S. last year were luxury models, purchased by people who owned at least two vehicles, and that ‘If you want EVs to get 100% or even 50% of the market, there have to be affordable EVs,’” says John F. Possumato, founder and CEO of DriveItAway. “Early last month, Mary Barra & GM set the stage by dramatically reducing the price of the 2023 Bolt; now DriveItAway is rolling out the dealer focused platform to make driving and owning an EV truly affordable for all.”
According to Possumato, DriveItAway’s app-driven platform was created so that anyone, regardless of credit or cash down, can immediately enjoy the benefits of driving a new Bolt EV through a turnkey vehicle subscription — insurance, maintenance, and all servicing included — and build down payment equity to buy the vehicle, with a portion of the subscription fees going toward the purchase, should the driver choose to buy it.
The CARite dealer group, based in Madison Heights, Michigan, with 32 locations in 14 states, is the first automotive retailer to partner with DriveItAway's Bolt program.
Lee Wells, general manager of the CARite dealer group, said: “We have used the DriveItAway platform in the past as a way for those who are down payment challenged to immediately drive the vehicle of their choice in our inventory while enabling a future purchase, so when they came to us with this unique Bolt EV program, as a way for customers to drive and then buy an EV, we immediately ‘got it’ and are proud to be among the first to feature it as a customer option.”
Possumato added: “We designed and created our DriveItAway platform to enable all consumers an easy transparent, affordable way to drive, and then buy if he/she chooses, the vehicle of choice, flipping the ‘service pyramid’ upside down for credit or down payment challenged. This is especially true when applied to EV vehicles. Why should just affluent, ‘three cars in the garage’ Tesla buyers be the only folks who enjoy the benefits of driving and owning an EV today?”