DropCar Launches DropCar Premier, a Total Vehicle Care and Valet Subscription Service
For $499/month, DropCar Premier provides complete vehicle maintenance and care services including parking and valet pickup/dropoff
January 04, 2018 07:00 ET | Source: DropCar, Inc.
NEW YORK, Jan. 04, 2018 (GLOBE NEWSWIRE) -- DropCar, Inc. (“DropCar”), a provider of app-based automotive logistics and concierge services for both consumers and dealers, today announced the launch of DropCar Premier, the first subscription-based total car care and valet service. For a simple monthly fee of $499, new monthly consumer subscribers can join DropCar’s existing and rapidly growing base of 1,400+ members (up 176% Year over Year) to receive complete vehicle maintenance and care services performed on as-needed, or at OEM-recommended intervals, saving members significant time and money, while keeping their vehicles well-maintained.
The DropCar Premier plan offers the ultimate in convenience and service, including the following:
Parking & Valet Services
Parking in a secure, covered facility
20 round trips per month
Unlimited airport pickup & dropoff
New York State inspection services
Case of FIJI® water (monthly)
Vehicle Maintenance
Fueling & charging, at cost/no additional service fee
Fluids monitored & topped off, as needed
Oil change, twice annually
Tire patching, as needed
Tire rotation/balancing, as recommended
Wiper replacement, as needed
Wheel alignment, as needed
Vehicle Care
Wash & vacuum (once per month)
Scratch buffing (as needed)
Detailing (once per year)
DropCar maintains parking spaces in garages around the New York Metro area. Subscribers use the DropCar mobile app to schedule pickup and dropoff of their vehicles by professionally-trained valets, either on-demand or with as little as an hour advance notice. While the vehicle is in storage, DropCar schedules, performs or sources the required vehicle services, ensuring that when the owner is ready for the vehicle, the vehicle is ready for the owner.
Since December of 2016, DropCar revenue from its original subscription offer, which was limited to parking and select valet services, is up 193%. Revenue from its service offerings, including fueling and washing (which were offered ad-hoc to parking subscribers) is up 412% since December 2016.
DropCar’s unique service model comes at a time of convergence. Urban populations are growing (especially in fast-growing cities) making parking more expensive and challenging to secure; service centers and dealers are increasingly being pushed to the suburbs, making it less convenient to get recommended maintenance; and people are holding on to cars longer (the average age of a typical car in the U.S. is 11.6 years, according to IHS Markit), meaning they need more maintenance and services. DropCar’s service addresses all three of these challenges by wrapping parking, maintenance and care into a single monthly subscription.
“Bundling in the full spectrum of auto services into a single monthly fee is a next step toward our goal of transforming car ownership into a subscription model,” Spencer Richardson, DropCar Co-founder and Chief Executive Officer. “If you own a car in the city, there’s no reason to waste time parking it, changing the oil, rotating the tires and many of the other hassles of ownership. With DropCar Premier, you just drive.”
DROPCAR’S PROPOSED MERGER WITH WPCS IS ON TRACK
This unrelated DropCar Service launch update follows the effective declaration, on December 14, 2017, by the U.S. Securities and Exchange Commission of the registration statement on Form S-4 (File No. 333-220891) associated with DropCar's proposed merger with WPCS International Incorporated (“WPCS”).
A Special Meeting of WPCS stockholders to vote on the merger is scheduled to be held on January 17, 2018 at 9:30 a.m. Eastern Time at the offices of Morse, Zelnick, Rose & Lander, LLP, 825 Third Avenue, 16th Floor, New York, NY 10022. WPCS stockholders of record as of the close of business on December 14, 2017 are entitled to vote at the Special Meeting.
About DropCar
Founded and launched in New York City in 2015, DropCar 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 valets 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.
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