![]() ![]() Warning: Operating, servicing, and maintaining a passenger vehicle or off-road vehicle can expose you to chemicals including engine exhaust, carbon monoxide, phthalates, and lead, which are known to the State of California to cause cancer and birth defects, or other reproductive harm. Contact us for the most current information. Although every reasonable effort has been made to ensure the accuracy of the information contained on this site, absolute accuracy cannot be guaranteed and we are not responsible for typographical errors. All prices, specifications, and availability are subject to change without notice. "Shift is the future of car ownership," Arison said.Disclaimer: All Vehicles Prices do not include government fees and taxes, any finance charges, any dealer document processing charge, any electronic filing charge, and/or any emission testing charge. Although Shift is still growing in a very competitive space, he feels confident about the company's path forward. However Arison sees room in the used car market for multiple winners. He added the company was test-driving online sales of its own. "Carmax disrupted the industry over 20 years ago by offering a high integrity, transparent and stress-free way to buy a car that customers want and need," said CEO and President Bill Nash to CNBC. ![]() In the coming years Shift faces stiff competition the likes of Carmax, one of the largest players in the used car market, which has moved more than 1/3 of its inventory to Millennials. Shift's engineering team is comprised of former employees from tech giants like Google, Facebook, Dropbox, and Twitter, and they want to digitize the entire car buying process by utilizing strategies like machine learning.Īt the moment, Shift is working on a product called "Zero Touch," which will allow a customer to get a loan and buy a car online without interacting with a sales associate. This is why they love Shift," Arison said. "They dislike 'Big Box retail, they prefer for things to be done online and brought to them. Shift is also capitalizing on the fact that millennials want experiences, rather than simple sales. People want to be able to take their kids to the movies, drive to Yosemite, and have the general freedom a car affords."Īccording to Shift's data, Millennials represent half of all Shift buyers – more than double those of AutoNation, the largest car dealership in the country whose clientele is about 22 percent Millennial. "Owning a car is as American as apple pie. "The conventional wisdom on this is wrong - millennials are buying cars, just later," Arison said. Nearly 80 percent of that age bracket now owns a car, while 75 percent who don't are planning on buying one, according to a 2017 study by Accel + Qualtrics study. Meanwhile, Shift's efforts are attracting a surprising generation: Millennials, whom recent data suggest have slowly warmed to owning cars, especially as the job market improves. At the same time, the company is working on becoming a one-stop shop for car buying and maintenance, and plans to break into oil and brake changes. Arison is looking to expand to 8-10 markets by the end of 2018. ![]() Shift currently operates in Los Angeles, Orange County, San Diego, San Francisco, and San Jose. "Data shows that nearly 90 percent of consumers want a test drive before purchasing a car, which makes complete sense… Customers want to touch, feel, smell and drive a car before agreeing to buy it."Īrison's own car buying experience inspired him to find an easier way and establish the startup, which has raised over $110 million from a wide range of investors that include Goldman Sachs, DFJ Capital and even BMW. "Our on-demand test drive is our competitive advantage," Arison said. ![]() While Shift's focus was on removing the hassle of physical dealerships, the startup recognizes that cars are one of the most expensive purchases people will ever make, and is attempting to bring the benefits of a traditional test drive to the modern consumer, CEO George Arison explained to CNBC recently. The company will bring a car for a test drive directly to a home, office, or anywhere that is most convenient for the potential buyer. In order to break into and stay ahead in the trillion dollar used car market, Shift relies heavily on technology and convenience. It's part of an increasingly competitive landscape that includes names like Vroom and Carvana, which went public in the spring and is valued at around $2 billion. This on-demand business model is all part of Shift's push to ameliorate the car buying experience and make it as easy as buying something online from Amazon. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit ![]()
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