CHICAGO – Driveitaway Inc., a provider of upstream remarketing programs for commercial and rental fleet vehicles, announced Los Angeles-based Fox Rent a Car has initiated a pilot upstream remarketing program using Driveitaway's online platform. The program allows Fox and its 43 affiliate partners to sell end-of-term vehicles directly to institutional and retail buyers, saving the cost of sending cars to auction. Each month on average, Fox replaces 500 to 700 vehicles in service.
"We aim to provide the best customer service at the most competitive rates through the use of technology and employee motivation. This strategy is delivering continued 30-40 percent annual growth," said Mark Mirtorabi, president of Fox Rent a Car.
Mike Williams, Fox's vice president of fleet and remarketing, added, "Effective cost control is critical to our success; with 90 percent risk vehicles we need to sell our end-of-term vehicles quickly and efficiently. Upstream remarketing solves this problem."
With Driveitaway, the vehicles are also marketed to registered users from other Driveitaway clients and to selected institutional buyers nationwide. Buyers can apply for financing and arrange transportation through the same Web site.