As the world of vehicle retail and car dealership evolves, one startup, Fleet, based in Wicklow, Ireland, is leading the charge in transforming the industry. Fleet has developed a ground-breaking “Mobility as a Service” solution, providing motor groups the ability to diversify their offering by providing own branded mobility solutions. This new platform is paving the way for major changes in the industry.
Fleet has developed an application that aims to drastically change the way the cars are sold and maintained. Initially, Fleet started as a peer-to-peer car-sharing platform, similar to AirBnB but for cars. However, seeing a huge opportunity, they pivoted their business model to create industry-disrupting software for motor dealers. The change came after recognizing that traditional Motor Dealers would need to adjust to a drastically changing business landscape or risk becoming irrelevant.
Key Takeaways
- Fleet provides a Mobility as a Service platform that allows car dealerships to diversify their offerings.
- The startup has used a peer-to-peer model as a springboard while providing the ability for their software to bring new revenues to traditional car sales
- Fleet enables dealers to offer short-term car hire and long-term car subscriptions with reduced insurance premiums.
- The company cooperated with some of the leading names in the motor industry to deliver the first licensed application, Toyota Daily Rental™, launched in 2019.
Fleet’s solution allows car dealerships to offer both short-term, daily car rental, and long-term, monthly car subscription services without having to bear massive insurance premiums or drastically alter their existing business models. Fleet’s innovation has minimal upfront capital expenditure requirements, enabling car dealers to easily rotate vehicles between sales and hires while maximizing utilization and tapping into a new market segment.
All the processes related to car hire, from license verification to vehicle survey, are done within the app. This digitized approach streamlines the process for users who can rent a car for as short as a day or subscribe for multi-year periods. All costs, including insurance, maintenance, and other fees, are rolled into a single price. Moreover, there is an option for the car to be delivered to the user’s doorstep, adding an extra layer of convenience for the customer.
Looking towards the future, it’s clear that Fleet’s innovation is not just a passing trend but a seismic shift in the way car dealerships operate. As identified in a 2019 McKinsey & Company report, the cooperation between tech startups and motor groups holds the key to future sustainable business models for car dealerships across Europe.
Keep an eye on Fleet as they lead the charge in transforming the automotive retailing industry in Europe. If you want to keep up with their journey, follow them on Twitter, Facebook, and LinkedIn. Or to know more about their services, visit their website at https://jointhefleet.com/.
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