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Detroit-Based Vehicle Subscription Service Buys Rival
Mobiliti LLC, a multi-brand vehicle subscription service, has acquired rival Condor Detroit.
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Mobiliti LLC, a multi-brand vehicle subscription service, has acquired rival Condor Detroit.
Terms of the deal weren’t disclosed. Both companies were launched last year and are based in Michigan.
As part of the acquisition, Condor CEO Tarun Kajeepeta will become Mobiliti's chief operating officer. Aaron Bedell, who had been Condor’s head of operations, will become Mobiliti’s director of dealer services for the Midwest and will oversee all operations in the Detroit area.
Mobiliti has agreements with more than 50 dealerships in Michigan and four other states. Subscribers have access to a range of vehicles for monthly fees that range from $550 to $1,200, including insurance, maintenance and roadside assistance.
Users can exchange vehicles once per month. Under the base plan, they are allowed 500 miles of travel during each period. There is no membership fee.
Mobiliti was launched last year by entrepreneurs Chancie and Amanda Richie. Ally Financial Inc. provides financing support to affiliated dealers and customers.RELATED CONTENT
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