Two significant developments unfolded this past month in the mobility and connectivity space. On the mobility front, Cox Automotive acquires Clutch Technologies. On the tech side of things, CDK announced its new partnership with Lyft to integrate the Fortellis platform. And who better to shed light on these developments than Cliff Banks from TheBanksReport.com.
Full Video Replay
Cox Automotive Acquires Clutch Technologies
Clutch Technologies offers a software platform that enables auto dealers, manufacturers, and others to offer vehicle subscription services. The acquisition of Clutch is meant to help accelerate the formation of Cox Automotive’s Mobility Services Division.
Cox has been making investments in this area for a few years now. Including an investment in LiDAR companies which develop autonomous driving technology. Banks states in this video, “Cox is making sure it’s in position to participate or to be relevant to be a main player.”
But that doesn’t mean the future is written in stone. Banks maintains that a shift in ownership from traditional to subscription services isn’t inevitable.
“The data that that we’re seeing now in terms of ownership, nothing really is indicating a revealing a change in behavior or opinion regarding the societal perspectives our attitudes towards driving or car ownership.”
He points out that both Cox and Kelley Blue Book have done studies showing “93% of generation Z folks … say they plan on owning a car.”
CDK Global to Integrate Lyft Concierge into Fortellis Platform
Lyft is known most commonly has a ride hailing service. But in addition to its mainstay consumer product, Lyft is also expanding its business services.
Lyft Business’ Concierge dispatch solution — already being used by approximately 300 dealerships — will be integrated into CDK’s dealer management system using the Fortellis platform. The integration will allow service departments to secure rides seamlessly through CDK’s service solution for their customers.
Fortellis is a new technology engine introduced this year by CDK. “With universal connections and protocols, it enables a true exchange of information and data in an open, secure and accessible, global network,” according to a March press release cited on TheBanksReport.com.
About this Video and Podcast
The audio recording included in this post features a conversation with Cliff Banks from our live weekly broadcast in August 2018. You can find it on the AutoConverse Podcast in the episode titled, Lyft Partners with CDK-Fortellis, Cox Acquires Clutch Technologies.
The full video replay of this conversation is also included in the post. Each week, AutoConverse is featured as a live stream on its parent company website – AutoConversion. There are several ways to enjoy the weekly show: