Welcome to our dedicated page for Driveitaway Hold news (Ticker: DWAY), a resource for investors and traders seeking the latest updates and insights on Driveitaway Hold stock.
DriveItAway Holdings, Inc. (OTC: DWAY) regularly issues news updates that describe its progress as a digital mobility and flexible lease-to-own platform for automotive retailers and their customers. Company announcements highlight how DriveItAway’s app-based technology enables franchise dealers and other partners to offer micro-lease, subscription, and lease-to-ownership programs aimed at individuals and small businesses facing traditional credit and affordability barriers.
Readers of this news feed can expect coverage of strategic partnerships with organizations such as Free2move, staffing firms, fleet service providers, and dealer groups, as well as updates on new market launches in additional U.S. cities. Releases often discuss the expansion of DriveItAway’s company-owned and managed vehicle fleet, new credit line arrangements, and initiatives to serve entry-level employees, on-demand nurses, and small commercial fleets that need reliable transportation without long-term commitments.
The news stream also features governance and advisory developments, including the addition of experienced industry figures to the company’s Board of Advisors, and commentary from management on broader vehicle affordability trends and the role of flexible access models. Investors and observers can use these articles to follow DriveItAway’s stated goals around dealer enablement, market expansion, and capital-markets strategy, including references to a targeted uplisting to Nasdaq.
By reviewing the latest DWAY news items, visitors can track how the company describes its evolving technology platform, its partnerships across the automotive and mobility ecosystem, and its efforts to address what it characterizes as a growing transportation affordability challenge for both consumers and small businesses.
DriveItAway Holdings, Inc. (OTC: DWAY) reports a 36% month-over-month growth in its owned or managed vehicle fleet from June to July 2024. This surge comes amid lackluster general new and used car sales. The company's unique 'micro-lease to purchase' technology is gaining traction as traditional vehicle financing becomes increasingly challenging for many consumers.
Key factors driving growth include:
- Increased web traffic and partnership with Partners Personnel
- New credit line for fleet financing
- Agreement with Westlake Financial for dealer credit lines
DriveItAway's platform allows customers to drive vehicles without down payments, long-term commitments, or credit score-based approvals, addressing a critical need in the current market where average monthly new vehicle payments have risen to over $756 and vehicle repossessions have surged by 23%.
DriveItAway Holdings, Inc. (OTC: DWAY) has partnered with Chapman Automotive Group in Philadelphia to expand its micro-lease to ownership program. This collaboration aims to centralize DriveItAway's fleet purchases and offer the program to Chapman's customers. Key points include:
1. Chapman Auto Group will supply vehicles for DriveItAway's growing fleet.
2. The program requires no down payment or credit score, targeting customers turned down for traditional financing.
3. DriveItAway recently secured a credit line to operate its company-owned fleet.
4. The partnership offers a competitive advantage as credit becomes more restrictive for consumers.
5. Chapman sees long-term benefits in service and pre-owned departments from this collaboration.
This strategic move allows DriveItAway to scale its operations while providing an alternative path to vehicle ownership for customers facing financial challenges.
DriveItAway Holdings, Inc. (OTC: DWAY) has been highlighted in AutoRemarketing, a leading automotive trade publication, for its rapid growth and partnerships in 2024. The company has forged four major partnerships this year to scale its unique 'micro-lease to purchase' technology platform:
1. National rollout with Partners Personnel in February
2. Agreement with Westlake Financial in April
3. $2 million credit line from AutoLeasing II in May
4. Partnership with Corporate Claims Management in July
DriveItAway's platform allows customers to drive vehicles immediately without down payments or credit score requirements, with the option to buy. The company aims to become the national retail software platform for subprime and deep subprime buyers, providing an 'on-ramp for new car acquisitions' as vehicle purchases become more challenging for many consumers.
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DriveItAway Holdings (OTC Marketplace: DWAY) has announced a partnership with Next Jump to offer its subscription service through the Perks at Work platform, which caters to 70% of the Fortune 1000 companies. This new initiative allows employees to access the ‘Drive Now, Decide Later’ program, giving them the chance to try electric vehicles (EVs) without long-term commitments. The program aims to increase accessibility for those regardless of credit score or down payment requirements. DriveItAway's mission includes expanding employee benefits and addressing automotive needs amid rising vehicle costs.
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