Mobility Software Leader Clutch Technologies Sees Positive Outlook for Flexible Access Category

- Porsche, Lexus, Toyota and others lead continued expansion of Clutch-powered alternative ownership programs.

- Nearly 3 out of 4 in-market shoppers would consider a car subscription service instead of purchasing or leasing.

- Mix of personalized transportation solutions - flexlease, on-demand rental and subscription - simplify consumer mobility needs.

News provided by

Cox Automotive

May 13, 2021, 07:01 ET

ATLANTA, May 13, 2021 /PRNewswire/ -- Clutch Technologies' continued commitment to innovation is helping vehicle dealers, manufacturers and fleet operators build more resilient businesses with next-generation flexible vehicle access products that deliver memorable customer experiences and unlock new revenue streams. According to a recent Autotrader Consumer Segmentation Study, nearly 3 out of 4 in-market shoppers would consider a car subscription service instead of purchasing or leasing, with top motivators including flexibility to change vehicles and that it is less expensive than owning or leasing. With consumer preferences changing and economic uncertainty looming, Clutch offers solutions for every type of consumer use case and automotive business.

"We're constantly evaluating the automotive industry to ensure our consumer mobility operating platform evolves with the needs of our partners and their customers," said Anshika Karamchandani, AVP of Flexible Access, Cox Automotive Mobility. "With a diverse portfolio of flexible access software solutions designed to maximize fleet efficiency and build enduring customer relationships, Clutch is enabling a transportation future that benefits everyone."

Following an economic slowdown that was felt across the automotive industry, signs of recovery emerged to close out 2020 and continued in the first half of 2021. For the alternative ownership category, while COVID slowed the introduction of some new programs last year, Clutch has seen accelerated growth in 2021 with many consumers reevaluating the need to own a vehicle.

Clutch is at the center of reshaping the automotive consumer experience, currently powering hundreds of rooftops with its dealer and OEM vehicle access programs offering consumers convenience, simplicity and flexibility, and operators a more efficient way to optimize their vehicle fleets. Understanding the need to satisfy a diverse set of driver demands, Clutch offers a variety of software solutions, including FlexLease, On-Demand Rental and Subscription. This mix of proven and easy-to-execute software solutions provide automotive business owners and operators the flexibility to build their business at their own pace and discover the platforms that best fit their current and future mobility needs.

Numerous successful OEM-led flexible access offerings powered by Clutch have been introduced and continue to expand across the country, with additional programs scheduled to launch later this year. Current programs include Porsche Drive from Porsche Cars North America, Lexus Complete Subscription from Lexus and Subscribe + Drive Powered by Toyota, the automaker's first vehicle subscription product operated out of Purdy Mobility's South Toyota in Dallas dealership. Porsche Drive, which offers users multi-vehicle subscription, single-vehicle subscription and on-demand rental, recently introduced six new locations – Irvine, Calif., Houston, Monterey, Calif., San Jose, Calif., San Francisco and Manhattan, N.Y. Lexus Complete Subscription offer multi-vehicle subscription in the Seattle/Tacoma area in Washington and the Silicon Valley area in California.

"At Purdy Mobility, we see how important convenience and quality are at the core of customer needs," said Matthew Hughes, Project & Operations Manager, Purdy Mobility. "With our all-inclusive Subscribe + Drive powered by Toyota program, we're delivering an experience designed to adapt to consumers' busy lives and eliminate the added costs and long-term commitment that come with a traditional car lease or purchase."

Flexible Access Models Powered by Clutch Technologies:

FlexLease – A simple, stress-free alternative to traditional owning or leasing with the access to the vehicle and commitment term that best meets consumers' circumstances and lifestyle, and with maintenance, insurance and other ownership costs often included.
On-Demand Rental – Hassle-free rental experience serving customers who are in between vehicles and those who don't want to own at all. With On-Demand Rental, providers can stay ahead of depreciation and earn more with underutilized assets, leveraging Clutch's automated scheduling and pricing fleet optimization tools.
Subscription – Turnkey solution to give customers the vehicles they want and the flexibility they need at a price that suits their personal use case for an all-inclusive monthly fee, and the option to "flip" in and out of different cars with some programs. Providers rewarded with predictable cash flow via a recurring fee model and enduring customer relationships.

For more information on Clutch Technologies and its portfolio of flexible access solutions, please visit www.driveclutch.com.

About Clutch Technologies
Clutch Technologies is the leader in subscription and mobility services software to the automotive industry. Utilizing Clutch's end-to-end platform, automotive dealers, OEMs, car rental companies and fleet operators can increase asset utilization, offer new revenue streams and deliver innovative consumer experiences. Clutch, a Cox Automotive company, is recognized as a pioneer in the subscription category and has been chosen, trusted and recommended by more than 1,100 dealer rooftops and by 3 out of every 4 U.S.-based automakers. Learn more about Clutch at www.driveclutch.com

About Cox Automotive
Cox Automotive Inc. makes buying, selling, owning and using vehicles easier for everyone. The global company's more than 27,000 team members and family of brands, including Autotrader^®, Dealer.com^®, Dealertrack^®, Dickinson Fleet Services, Kelley Blue Book^®, Manheim^®, NextGear Capital^®, VinSolutions^®, vAuto^® and Xtime^®,are passionate about helping millions of car shoppers, 40,000 auto dealer clients across five continents and many others throughout the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with annual revenues of nearly $20 billion. www.coxautoinc.com