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Test Drive, No Dealer (1/22/13)

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  1. BMW2:04, 2:09
  2. GM1:30
  3. Chevrolet Volt3:20
  4. US Environmental Protection Agency3:11
  5. break even2:18
  6. online service0:30
  7. CEO Rick Wagner1:30
  8. Seattle company0:28
  9. rental car company2:07

Tue, 22 Jan 2013|

Ex-GM chief Wagoner among venture's backers; BMW, Daimler seek car-sharing profits; Honda's 115-mpg Accord.

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Automatically Generated Transcript (may not be 100% accurate)

Bypassing. The show world. Start up with ties to a familiar face is looking to change the way customers test drive car. -- -- Looking in on the -- Tuesday one thing is certain this industry is constantly evolving. Case in point. Tread a Seattle company developing a new online service that cuts trips to the dealership. By delivering new vehicles for customers to test drive in the even purchase. As you can see in this video tread drivers not sales people drive the vehicles wherever the shopper wants. It's also up ahead of time through treads website or iPad -- The company says the move allows dealerships to keep sales personnel on the floor at all times. Once tried customers know what they want they are connected to stores in -- -- several dealerships have already signed. Tread boss grand -- saying quote. Our goal is to leverage the Internet to help dealers sell cars in a way that makes them as happy as our shoppers and we're doing just that. It's not clear how -- generated revenue or who'll pay its fees or commissions. The service launches this spring in the Pacific northwest. Forward GM CEO Rick Wagner. With among the investors who provided a total of one point seven million dollars in seed money to help on the start up. The company not disclosing Wagner's investment. Wired dot com wrote a full report about tread last week. Car sharing services aren't just a novelty anymore. At least two auto makers plan to turn them into profits Sanders. BMW's says it expects its drive now venture to make money this year. BMW runs that paid by the minute service with a rental car company. And Bloomberg says BMW will even limit expansion. Of drive now to focus on making money. -- meantime has set you break even date of 20144. -- service cult car to go. In that recently started a subsidiary. -- we're mobility services to run the operation. And for good reason. In Europe alone membership in car sharing services may search. Want people to fifteen million people by one each one. Sosa is consulting firm frost and Sullivan. Such prospects. Recently led US rental car giant Avis to be nearly a half billion dollars. For zip car. Finally remember when we measured miles per gallon using two digit numbers. Well a member of the three digit club is on sale as of this month. The Honda Accord plug in hybrid became available last week in new York and California. It's rated by the US Environmental Protection Agency at the equivalent of 115. Miles per gallon. It -- the 98 and -- Chevrolet Volt and the Prius plugin which comes in at 95. The Prius launch in fifteen states last year. Ford's upcoming fusion energy plugin is rated at 100. You -- With that we thank you for watching of course you can stay with auditors dot com for news updates throughout the we'll see you back here tomorrow afternoon.

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