Drive Motors is an Internet tool that was developed to make the process of buying a new vehicle as easy as online shopping.
The tool is hosted on a dealership's website in order to help consumers complete a purchase with the click of a button. Once placed, this tool means that consumers are able to carry out transactions with a dealership around the clock and then specify whether they'd like to have their new car delivered or be made available for pickup the next day. After an order is initiated, users are also able to make arrangements for loans, trades and buying insurance.
As CEO Aaron Krane describes, "It allows dealers to close a deal automatically at any time of day – even when they’re asleep at 3 a.m." To emphasize this point, Krane often recalls a story of a user who bought a Toyota Prius early one New Year’s Day.
What's Driving This Trend
- Online Dealership Services
- Opportunities for dealerships to create similar online tools and make the car-buying process more convenient for consumers.
- 24/7 Transactions
- Opportunities for businesses to offer around-the-clock transactions and automated services to cater to consumer schedules.
- All-in-one Car Purchase Platforms
- Opportunities for companies to create comprehensive online car buying platforms that include loan and insurance options, as well as the ability to buy or trade in a car.
Who This Affects Most
- Automotive
- Integration of online services into dealerships to make car-buying a more convenient process.
- Financial Services
- Opportunities for financial institutions to partner with car dealerships and offer loan and insurance options on one platform.
- E-commerce
- Opportunities for e-commerce businesses to expand into the automotive market with fully-online car purchasing platforms.
