FORT LAUDERDALE, Fla.,
Nov. 15, 2018 /PRNewswire/
-- AutoNation, Inc. (NYSE: AN), America's largest automotive
retailer, today announced a partnership with Fair, the nation's
fastest growing car subscription company. Together, the companies
are providing a completely new digital experience that enables
consumers to get access to certain used and certified pre-owned
vehicles at AutoNation dealerships, all on their mobile device.
AutoNation's selection of Fair as a strategic partner signals
the company's continued commitment to emerging technologies and its
constant focus to provide peerless customer experiences. Fair
introduces a new way to get access to a vehicle—a month-to-month
subscription model that lets consumers shop and sign for a car
directly through the Fair app from anywhere.
With Fair, AutoNation dealerships gain a new sales channel that
matches car shoppers with the inventory that best fits their needs.
Fair's subscription model offers consumers the ultimate flexibility
in personal transportation, allowing them to keep a car as long as
they want it and walk away at any time without penalty. Every Fair
car comes with a limited warranty, routine maintenance, and
roadside assistance included. Consumers can also add insurance,
extra miles or excess wear-and-tear protection at checkout and
bundle it all into one simple, transparent monthly payment.
"We're absolutely delighted to build this strategic partnership
with AutoNation, the leading automotive retailer in the U.S. with
an unwavering commitment to the used car sector and its customers"
said Georg Bauer, Fair's Co-founder
and Chairman. "We're putting digital capabilities to work that
allow customers to shop for vehicles and transact on them from the
convenience of a smartphone. We're focused on making getting a car
as easy as streaming a movie."
"The innovation of Fair's model is unique," said Mike Jackson, AutoNation's Chairman and CEO. "We
are excited about the potential of this partnership to give our
customers an alternative to traditional ownership via Fair's
subscription model, which lets customers return their cars when
desired. From a dealer's perspective this will help increase the
velocity of the used car business while also enhancing our access
to new customer groups."
AutoNation will begin rollout in California this month. Together, both
companies will continue to transform and modernize customer
experiences. Jackson and Bauer previously worked together, leading
Mercedes-Benz USA as CEO and
President and Mercedes-Benz Credit Corporation as CEO,
respectively.
About AutoNation, Inc.
AutoNation, America's largest
automotive retailer, is transforming the automotive industry
through its bold leadership, innovation, and comprehensive brand
extensions. As of September 30, 2018,
AutoNation owned and operated over 325 locations from coast to
coast. AutoNation has sold nearly 12 million vehicles, the first
automotive retailer to reach this milestone. AutoNation's success
is driven by a commitment to delivering a peerless experience
through customer-focused sales and service processes. Through its
Drive Pink initiative, AutoNation is committed to drive out cancer,
create awareness and support critical research. AutoNation
continues to be a proud supporter of the Breast Cancer Research
Foundation and other cancer-related charities.
Please visit investors.autonation.com, www.autonation.com,
www.autonationdrive.com, www.twitter.com/autonation,
www.twitter.com/CEOMikeJackson, www.facebook.com/autonation, and
www.facebook.com/CEOMikeJackson, where AutoNation discloses
additional information about the Company, its business, and its
results of operations.
About Fair
Fair is a Santa
Monica-based tech company pioneering the Car as a Service
(CaaS) subscription model in the mobility space. The Fair app
provides consumers an alternative to traditional long-term
financing and leasing commitments, enabling them to drive a car of
their choice and return it at any time. The Fair experience is
end-to-end, paperless, transparent and affordable.
For more information or to browse cars, download the app from
the App Store or Play Store, or
visit www.fair.com.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements other than statements of historical fact
are, or may be deemed to be, forward-looking statements. Words such
as "anticipates," "expects," "intends," "goals," "plans,"
"believes," "continues," "may," "will," "could," and variations of
such words and similar expressions are intended to identify such
forward-looking statements. Statements regarding our strategic
initiatives, partnerships, or investments, as well as other
statements that describe our objectives, goals, or plans, are
forward-looking statements. Our forward-looking statements reflect
our current expectations concerning future results and events, and
they involve known and unknown risks, uncertainties, and other
factors that are difficult to predict and may cause our actual
results, performance, or achievements to be materially different
from any future results, performance, and achievements expressed or
implied by these statements. These risks, uncertainties, and other
factors include, among others: economic conditions, including
changes in interest rates, fuel prices, and tariffs; new and used
vehicle margins; the success and financial viability and the
incentive and marketing programs of vehicle manufacturers and
distributors with which we hold franchises; our ability to
implement successfully our strategic initiatives; our ability to
maintain and enhance our retail brands and reputation and to
attract consumers to our digital channels; restrictions imposed by
vehicle manufacturers and our ability to obtain manufacturer
approval for acquisitions; natural disasters and other adverse
weather events; the resolution of legal and administrative
proceedings; regulatory factors affecting our business, including
fuel economy requirements; and other factors described in our news
releases and filings made under the securities laws, including,
among others, our Annual Reports on Form 10-K, our Quarterly
Reports on Form 10-Q and our Current Reports on Form 8-K.
Forward-looking statements contained in this news release speak
only as of the date of this news release, and we undertake no
obligation to update these forward-looking statements to reflect
subsequent events or circumstances.
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SOURCE AutoNation, Inc.