BMW has teamed up with rental car company Sixt to create the world’s first luxury car sharing service, DriveNow. DriveNow is a new program aimed at people who would like to try car sharing, but don’t want to be seen riding around town in a Ford Fiesta or Chevy Cruze--not that there is anything wrong with that, of course.
DriveNow is an ambitious program that is incredibly tech-savvy. Registered DriveNow users will have their driver’s license chipped. The chip will be used to unlock and start all DriveNow vehicles. Rates are charged by the minute, and cars can be picked up anywhere around the city. All of DriveNow’s cars will have four seats and come equipped with upscale amenities like A/C and heated seats. DriveNow plans to roll out a pilot program in Munich this year, and hopes to have 1 million registered members worldwide by 2020.
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Trend Themes
1. Luxury Car Sharing - The trend of luxury car sharing opens up a disruptive innovation opportunity for car manufacturers to reach a larger customer base and increase brand loyalty.
2. Chipped Driver's License - The trend of chipping driver's licenses for easy access to a shared luxury car presents an opportunity for tech companies to partner with car sharing services and provide secure and convenient access to vehicles.
3. Minute-by-minute Charging - The trend of charging for car sharing services by the minute presents an opportunity for fintech companies to offer innovative payment solutions catered to the needs of car sharing customers.
Industry Implications
1. Automotive - The automotive industry can leverage luxury car sharing services to tap into a new customer base and generate additional revenue streams.
2. Technology - The technology industry can partner with luxury car sharing services to deliver secure, efficient, and user-friendly access to vehicles.
3. Fintech - The fintech industry can create innovative payment solutions tailored to the needs of car sharing customers, and capitalize on the growth of the shared mobility market.