Joint venture aims to accelerate growth of flexdrive vehicle subscription service

Cox Automotive, publisher of Autotrader and Kelley Blue Book, announced a new joint venture with Holman Enterprises that makes them shared owners of Flexdrive – a mobility company that enables consumers to subscribe to a vehicle instead of buying or leasing it.

“Both Holman Enterprises and Cox Automotive share an appreciation for what it means to move forward and create what consumers want today instead of fitting yesterday’s solutions into today’s demand,” said David Liniado, vice president of consumer mobility at Cox Automotive. “Through this partnership, we are combining the best of both companies to give consumers a new way to satisfy their mobility needs while enabling dealers to get into the mobility market.”

Flexdrive was created within Cox Automotive in 2014 and evolved into a joint venture with Holman Enterprises in early April. Holman Enterprises is a Mount Laurel, N.J.-based automotive services conglomerate that owns 38 dealerships as well as an automotive finance company, an insurance carrier and a fleet leasing firm.

Through Flexdrive, consumers can subscribe to a car via a mobile app within minutes, and drive away without worrying about insurance, maintenance or any of the other activities typically involved in purchasing or leasing a vehicle, according to the two companies. Consumers can swap vehicles at any time, giving them the flexibility they need without the commitment of a long-term contract.

“The modern marketplace is asking for mobility solutions, not just transportation, and we are enthusiastic about working together with Cox Automotive to meet the modern consumer’s needs,” said Brian Bates, president and CEO of Holman Consumer Services. “At Holman, we have always been committed to providing customers with extraordinary service, and giving our customers the opportunity to ‘flex’ in addition to purchasing or leasing is another way we are achieving that goal.”

The first Holman franchise to offer consumers the ability to “flex” is Flexdrive of Cherry Hill, located in Southern New Jersey.

 

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