Mobiliti Vehicle Subscription Service Acquires Condor Detroit

DETROIT, July 17, 2018 /PRNewswire/ -- Mobiliti, the first national multi-dealer, multi-brand vehicle subscription service has acquired Metro Detroit-based vehicle subscription company Condor Detroit. Southeast Michigan will mark the fourth U.S. market where Mobiliti is operating.

A vehicle subscription is for people who want a car, but aren't ready to commit, or simply don't want to own one. It is like a long-term rental, or short-term lease, but without the things consumers dislike most, such as long-term contracts and upfront costs. The added benefits include bundled insurance, maintenance and roadside assistance for one monthly fee, as well as access to newer, higher-end vehicle options. There is no cost to become a Mobiliti member, and customers have the option of as little as a 30-day subscription.

To broaden the vehicle subscription service offerings in Detroit, Mobiliti has acquired Condor, which began operations in December 2017, and has served more than 75 subscribers in the metro area. The acquisition will allow Mobiliti to leverage Condor's traction in a competitive market where most residents have access to auto manufacturer discounts.

"Condor has quickly built a vehicle subscription service with a strong technology platform and a robust growth trajectory," said Chance Richie, CEO and co-founder of Mobiliti. "Adding the Condor team's experience and customer focus to the Mobiliti family allows us to quickly enter the market in Michigan and further support our ambitious national growth plans for 2018 and beyond."

Mobiliti's top priority is delivering customers a seamless user experience. The company will evaluate all aspects of Condor's model for best customer service practices, strategic fit, customer adoption and dealer profit potential. Initially, Mobiliti will maintain Condor's business model and provide uninterrupted service for current customers for an open-ended period. New customers will be able to manage their subscriptions via the Mobiliti mobile app, as well as Condor's web interface.

Most of the Condor team will join Mobiliti, including founder Tarun Kajeepeta and head of operations, Aaron Bedell.

"We want to leverage the incredible experience, talent and vision of Tarun and Aaron," said Amanda Richie, chief marketing officer and Mobiliti co-founder. "Tarun will assume the role of Chief Operating Officer for Mobiliti's operations network-wide, and Aaron will serve as Director of Dealer Services-Midwest, including continued management of all operations in Metro Detroit."

Unlike other subscription services, Mobiliti works with dealers to generate new business by providing customers with an alternative to leasing or buying utilizing existing dealer floorplan inventory. Mobiliti has finalized agreements with Tamaroff Auto Group, based in Southfield, and Clarkston-based Bowman Auto Group to provide drivers in Metro Detroit the ability to subscribe to a variety of makes and models. Mobiliti also will continue to utilize Condor's existing fleet of vehicles.  

Additionally, per a separate agreement, Mobiliti works with Ally Financial to provide fleet financing credit facilities to qualified dealer partners interested in the Mobiliti platform.

"After ongoing discussions with Chance and the Mobiliti team, we determined a consolidation of efforts would benefit both companies, as well as the end consumer," Kajeepeta said. "While we have seen strong traction in the Detroit market through the efforts of a lean team, Mobiliti has built a platform geared to scale up quickly and has invested significantly in growing its dealer network. Collectively, we're prepared to deliver a top-of-the-line customer experience and facilitate rapid growth."

A complete list of available vehicles in Metro Detroit can be viewed on the Mobiliti mobile app and Condor's website. Subscriptions begin at $529 per month, including insurance and routine maintenance.

ABOUT MOBILITI
Mobiliti is the first national vehicle subscription service to partner with a variety of dealers to provide consumers with simple, flexible, cost-effective month-to-month access to a wide variety of vehicle makes and models. One monthly fee includes insurance, maintenance, warranty and roadside assistance. For more information, visit www.Mobiliti.com.

SOURCE Mobiliti