ATLANTA and MOUNT LAUREL, N.J. — Cox Automotive today announced a new joint venture with service provider Holman Enterprises. The companies are now shared owners of Flexdrive, a new mobility company designed to enable consumers to subscribe to a vehicle, rather than buying or leasing it.
The business model was initially created within Cox Automotive in 2014 and evolved into a joint venture with Holman Enterprises in early April.
“Both Holman Enterprises and Cox Automotive share an appreciation for what it means to move forward and create what consumers want today instead of fitting yesterday’s solutions into today’s demand,” said David Liniado, vice president of consumer mobility at Cox Automotive. “Through this partnership, we are combining the best of both companies to give consumers a new way to satisfy their mobility needs while enabling dealers to get into the mobility market.”
Flexdrive is a vehicle subscription and services platform that enables dealers to offer vehicle subscriptions as an option alongside buying and leasing. Through Flexdrive, consumers can subscribe to a car via a mobile app within minutes, and drive away without worrying about insurance, maintenance or any of the other activities typically involved in purchasing or leasing a vehicle. They can swap vehicles at any time, giving them the flexibility they need without the commitment of a long-term contract.
Founded in 1924, Holman Enterprises has grown from a single Ford dealership in Maple Shade, N.J., to a global automotive conglomerate consisting of both consumer and business-related services, including 38 franchise stores across the country, a global corporate fleet management company, truck upfitting, parts distribution, consumer finance and insurance businesses.
The company’s history, culture, values, mission, team member approach and community involvement mirrors that of Cox Automotive, making the partnership an ideal move to accelerate the growth of Flexdrive, according to Holman Consumer Services CEO Brian Bates.
“The modern marketplace is asking for mobility solutions, not just transportation, and we are enthusiastic about working together with Cox Automotive to meet the modern consumer’s needs,” said Brian Bates, president and CEO of Holman Consumer Services. “At Holman, we have always been committed to providing customers with extraordinary service, and giving our customers the opportunity to ‘flex’ in addition to purchasing or leasing is another way we are achieving that goal.”
As a joint venture, Flexdrive will be led by Jose Puente, who has assumed the role of president.
“With Flexdrive, we are rewriting the rules of car ownership,” said Puente. “It is the new way to car, and fueled by the joint support of Cox Automotive and Holman Enterprises, we’ll be bringing this unique offering to more markets throughout the year.”
The first Holman franchise to offer consumers the ability to “flex” is Flexdrive of Cherry Hill, located in Southern New Jersey.