DriveItAway Holdings (OTCMKTS:CLCN) Launches Bolt EV “Pay As You Go” Subscription To Ownership Program
About The Company
Founded by serial auto retail entrepreneur, John F. Possumato DriveItAway Holdings (OTCMKTS: CLCN)is the industry leader when it comes to automotive dealers new mobility platforms. It’s game-changing “Pay as You Go” app-based subscription program lets car dealers sell more vehicles through eCommerce, in a hassle-free manner.
Market Stats
On Tuesday, CLCN stock gained 11.35% to $0.0947 with more than 100 shares, compared to its average volume of 9.8K shares. The stock moved within a range of $0.0947 – 0.0947 after opening trading at $0.0947.
DriveItAway Holdings, Inc (OTCQB: CLCN) Launches Bolt EV Subscription To Ownership Program
DriveItAway Holdings, Inc. announced on June 6, 2022, about launching its electric vehicle subscription to ownership program with the General Motors Bolt and Bolt EUV. DriveItAway is now rolling out the Bolt/Bolt EUV in conjunction with a recent announcement by General Motors of the substantial price decrease of the upcoming 2023 Bolt/Bolt EUV. It will benefit those who want to experience what it is like to own and drive an EV!
Like others after the Covid-19 pandemic, Saleem S. Shaik has a hybrid work schedule where he has to drive 45 miles each way three days a week. He wasn’t certain about buying or leasing a vehicle immediately, as his schedule could change in the future. Instead, he opted for an EV, due to the high fuel prices of a gasoline vehicle. If his commute becomes more regular, and he has to purchase a vehicle, he would prefer an EV. The DriveItAway flexible subscription to ownership program is the ideal fit for his requirements.
John F. Possumato, Founder and CEO of DriveItAway, stated that if EVs are to get 100% or even 50% of the market, they have to be affordable. Mary Barra, CEO, and her team at General Motors, have drastically reduced the price of the 2023 Bolt, and DriveItAway is accordingly rolling out the dealer-focused platform to make driving and owning an EV truly affordable for all.
The company’s easy and transparent app-driven consumer 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. To top it all, insurance, maintenance, and all servicing is included with the package! The driver gets to build down payment equity to eventually purchase the vehicle. A part of the subscription fees goes towards the purchase if the driver ultimately chooses to go ahead.
The DriveItAway program resolves two of the biggest problems for all buyers of EV vehicles. The first is the higher upfront cost, which is spread out with the DriveItAway program over many months of driving as opposed to one large upfront payment. The other is the aspect of suitability, as the subscriber has an unlimited “test drive” to make sure an EV is right for him/her, with the option to purchase the vehicle at any time. It is much better than a conventional vehicle subscription or rental because a part of what is paid to drive isn’t wasted.
Key Quote
“Mary Barra, CEO of General Motors, pointed out recently in a Yahoo! Finance interview that most EVs sold in the US last year were luxury models, purchased by people who owned at least two vehicles, and that ‘If you want EVs to get 100 percent or even 50 percent 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 & owning an EV truly affordable for all.”
Traders Corner
CLCN stock is trading above the 20-Day and 50-Day Moving averages of $0.09 and $0.09 respectively. However, the stock is trading below the 200-Day moving average of $0.15.
