In addition, the Booran dealerships will utilise the Car Subscription Solution developed by Carly and I-Motor that enables a 'subscribe' option to be added to vehicles listed on dealer websites, making it easy for customers to sign up online for a car subscription that is facilitated by Carly (www.Carly.co).
The Car Subscription Solution enables automotive dealers to seamlessly introduce a new revenue stream to their dealership and provide their customers with the opportunity to subscribe to a vehicle whilst viewing it on the dealer website. The Car Subscription Solution leverages web traffic already landing on the dealer website and therefore requires no additional marketing expenditure. Digital marketing is an area of great focus for automotive dealers, despite the challenges of converting web traffic into foot traffic in the dealership and eventually into the sale of a vehicle. The Car Subscription Solution helps solve these challenges by enabling the customer to complete the subscription process entirely online and by offering a lower commitment alternative to outright purchase of a vehicle, a loan or a long-term lease.
For Carly, the Car Subscription Solution accesses dealer-owned vehicles that can be monetised via car subscription, whilst also providing an integrated and low cost method of acquiring subscription customers via the dealer websites.
I-Motor currently manages over 700 websites on behalf of dealers, which display over 50,000 vehicles and attract over 50 million page impressions per month. I-Motor will offer the Car Subscription Solution to each of these dealers. Carly and I-Motor will jointly promote the Car Subscription Solution to existing Carly dealers and other automotive dealers in
Under the I-Motor agreement announced on
Carly generates revenues when vehicles are subscribed for via Carly, with a recent average revenue per month of
The transition of consumer preferences from the purchase of vehicles to utilising vehicle subscription services is expected to take time and therefore, whilst the potential market size for the Carly subscription offering is extremely large, the business model is new and take-up by consumers and market penetration cannot be predicted accurately. It is therefore not possible to quantify the financial impact of this additional supply agreement on Collaborate in any given time frame. This latest agreement with Booran Dandenong follows recent signings of agreements with fleet managers, automotive manufacturers and dealers, including
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