DropCar Inks Managed Services and SaaS Agreement with Audi/ Volkswagen Manhattan Dealership

Topic:

Logistical & Technology Support Aims to Enhance Vehicle Owner Experience and Customer Retention

NEW YORK, NY / ACCESSWIRE / November 6, 2018 / DropCar, Inc. (NASDAQ:DCAR), a leading provider of app-based mobility services and logistics for both automotive business providers and consumers, today announced that it has entered into an agreement with Audi/Volkswagen Manhattan (www.audimanhattan.com), New York's premier Audi retailer, to provide DropCar's managed services and SaaS technology.

''The goal of this program is to, not only improve the dealership's logistical efficiency for scheduling, tracking and safely moving vehicles, but enhance their customers' ownership experience during the many years they will own or lease their Audi or Volkswagen vehicle, which can have a profound impact on customer retention and service revenue'' stated David Newman, DropCar's Chief Business Development Officer.

According to the National Automobile Dealers Association (NADA) the nearly 17,000 franchised dealerships in the USA alone wrote more than 155 million repair orders with service and parts sales exceeding $58 billion. ''We believe expanding service sales while reducing overhead in this increasingly valuable department within dealerships has moved to the forefront of executives' minds, paving the way for DropCar's technology plus last mile logistics field support to be a critical partner'', added Newman.

Serving Manhattan, its surrounding boroughs, and a volume of daily commuting drivers from Northern and Central New Jersey, Audi/Volkswagen Manhattan is a landmark dealership, owned and operated by the Open Road Auto Group.

Mr. Phillip Demersky, Director of Fixed Operations for Audi/Volkswagen said, ''Post-purchase, we want to do all we can to make ongoing vehicle ownership as convenient as possible for our clients, especially when it comes to continuing service and maintenance. Partnering with DropCar now enables us to offer the type of professional concierge service our valued customers deserve.''

About DropCar:

Founded and launched in New York City in 2015, DropCar's mission is to power the next generation of mobility by bringing the automotive industry's products and services to everyone's front door. DropCar's core Mobility Cloud platform, and integrated mobile apps help consumers and automotive-related companies reduce the cost, hassles and inefficiencies of owning a car, or fleet of cars, in urban centers. Dealerships, fleet owners, OEMs and shared mobility companies use DropCar's last mile logistics platform to reduce costs, streamline logistics and deepen relationships with customers. More information is available at https://drop.car/

Forward-Looking Statements:

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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SOURCE: DropCar

Topic:

Company Update

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