DriveItAway and Voyager Launch Direct-to-Dealer Off-Fleet Vehicle Program
Summary
DriveItAway and Voyager Global Mobility announced a strategic alliance to create a direct-to-dealer channel for Voyager's off-fleet vehicles, bypassing wholesale auctions and reducing intermediary costs. The program includes consignment options for dealers and a flexible lease-to-own path for subprime consumers through DriveItAway's app. Voyager says it has hundreds of off-fleet vehicles becoming available monthly, targeting the $10,000–$20,000 retail range. This follows DriveItAway's record July revenue and its recent Form 15 deregistration filing, which suspended SEC reporting. The alliance could meaningfully expand DriveItAway's inventory supply and revenue potential, though execution details and financial terms remain undisclosed.
At the time of this announcement, DWAY was trading at $0.02 on OTC in the Trade & Services sector, with a market capitalization of approximately $2.5M. The 52-week trading range was $0.00 to $0.11. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.