NEW YORK, July 10, 2018 (GLOBE NEWSWIRE) — DropCar Inc. (NASDAQ:DCAR), the provider of app-based mobility services and logistics for automotive consumers and enterprises, today announced a new agreement with Volvo Cars Manhattan. The dealership will use DropCar’s Enterprise Vehicle Assistance & Logistics technology platform (“VAL”) to automate the pickup and delivery of customer vehicles for service and maintenance.
DropCar’s VAL service and corresponding data analysis tools enable Volvo Cars Manhattan to deliver an entirely new and improved level of service to customers. DropCar’s simple interface automates the pickup and delivery of customer vehicles by more than 200 professionally trained drivers. It also tracks vehicle movements as well as repair status. The new level of customer convenience enables dealers to retain valuable post-sale service contracts and revenue from their customers.
“Volvo Cars Manhattan is committed to offering our customers the best and most convenient options when it comes to car service,” said John Kaufman, vice president of Volvo Cars Manhattan. “The VAL platform developed by DropCar helps our service teams give customers a smooth, high-quality experience that builds loyalty and trust.”
Volvo Cars Manhattan joins a growing list of dealers in the Tri-State area that have licensed DropCar’s enterprise VAL platform, including: Manhattan Motorcars, Jaguar Land Rover Manhattan, Lexus of Manhattan, Lexus of Queens, Mercedes Benz of Manhattan, Toyota of Manhattan and Queensboro Toyota.
The announcement also comes on the heels of DropCar’s expansion nationwide. In June, the company released DropCar Mobility Cloud, a version of the VAL platform that allows any dealership to take advantage of DropCar’s advanced logistics software by using their own personnel for vehicle pickup and delivery. The company also recently began new operations in San Francisco and Washington, D.C., offering the VAL platform to auto-dealerships, rental companies and car sharing brands.
“We are excited to bring our platform to the great team at Volvo Cars Manhattan,” said Spencer Richardson, chief executive officer of DropCar. “With the touch of a button, their customers will now be able to schedule maintenance, track progress, and build long-term relationships with their dealer service department.”
Founded and launched in New York City in 2015, DropCar (NASDAQ:DCAR) offers its Vehicle Support Platform (VSP), a cloud-based platform and mobile app that help consumers and automotive-related companies reduce the cost, hassles and inefficiencies of owning a car, or fleet of cars, in urban centers. Its technology platform blends the efficiency and scale of cloud computing, machine learning and connected cars with the high-touch of highly trained drivers to move cars to/from fully staffed, secure garages to/from the people (or businesses) who own them. Consumers use DropCar’s mobile app to ease the cost and stress of owning a car in the city. Dealerships, leasing companies, OEMs and shared mobility companies use DropCar’s enterprise platform to reduce costs, streamline logistics and deepen relationships with customers. More information is available at www.dropcar.com.
This press release contains “forward-looking statements” that involve substantial risks and uncertainties for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this press release regarding strategy, future operations, future financial position, future revenue, projected expenses, prospects, plans and objectives of management are forward-looking statements. Such statements are based on management’s current expectations and involve risks and uncertainties. Actual results and performance could differ materially from those projected in the forward-looking statements as a result of many factors, including, without limitation, the ability to project future cash utilization and reserves needed for contingent future liabilities and business operations, the availability of sufficient resources of the company to meet its business objectives and operational requirements and the impact of competitive products and services and technological changes. The foregoing review of important factors that could cause actual events to differ from expectations should not be construed as exhaustive and should be read in conjunction with statements that are included herein and elsewhere, including the risk factors under the heading “Risk Factors” in DropCar’s filings with the Securities and Exchange Commission. Except as required by applicable law, DropCar undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
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