Car Next Door releases a positive quarterly report

KEY TAKEAWAYS: 

• Hyundai Motor Company has invested $2 million into Car Next Door.
• Hyundai is looking to integrate their in-car technology with Car Next Doors to make Hyundai cars shareable on their platform.
• Car Next Door did a lot stronger than planned in June.

Car Next Door, an innovative Australian start-up that allows individuals to rent privately owned vehicles on an hourly or daily basis, released a quarterly report that covers the major initiatives they worked on from April to June of this year.

A major part of the report is Hyundai Motor Company’s $2 million investment in Car Next Door. Car Next Door is collaborating with Hyundai to:

• Integrate their in-car technology with Car Next Doors to make Hyundai cars shareable on their platform.
• Marketing partnerships to help both parties.
• Potential partnership between Car Next Door, Hyundai, and Caltex to rent Hyundai electric vehicles from Caltex service stations through the Car Next Door platform.

Charts, Stats and Growth

Stats:

Covering Stats up to June 2018

Date: As at Month Ending ….	Live Cars	Approved Borrowers	Monthly Bookings
06-18 – Financial Model Projection ^	1659	85,000	7,116**
Actuals
June 16	461	16,946	1,985
July 16	513	17,989	2,412
Aug 16	546	19,103	2,539
Sept 16	585	20,418	2,645
Oct 16	598	22,126	3,313
Nov 16	639	24,046	3,532
Dec 16	708	26,518	3,846
Jan 17	733	28,767	3,994
Feb 17	795	30,826	3,932
Mar 17	860	33,013	4,216
Apr 17	924	35,305	4,699
May 17	1011	37,022	4,051
June 17	1062	39,053	3,726
July 17	1122	41,268	4,413
Aug 17	1204	43,411	4,359
Sept 17	1236	46,074	5,181
Oct 17	1258	49,011	6,365
Nov 17	1302	52,713	6,646
Dec 1^	1629	57,800	8,315
Jan 18	1331	62,522	8,162
Feb 18	1360	67,147	7,904
Mar 18	1437	72,956	9,159
Apr 18	1491	77,101	9,313
May 18	1531	80,619	7,912
June 18	1562	84,041	7,879
June 18 vs May 18 (MoM Growth)	2.0%	4.2%	-0.4%
June 18 vs June 17 (YoY Growth)	47.1%	115.2%	111.5%

Car Next Door did a lot stronger than planned in June. The Financial model= 7.1k trips, and the actual was 7.9k.

As you can see from previous years, the company has a winter slump, but bookings will rise sharply after July.

If Car Next Door caught your eye, register your interest below!

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About Car Next Door

From a pilot operating in a few Sydney suburbs in 2013, Car Next Door has grown to a powerful peer-to-peer car-sharing marketplace operating in four cities, with over 50,000 approved members and gross sales ARR of $7 million a year growing at 2 times year on year.

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