Car Next Door Releases Positive Quarterly Report and Progress Sheet

KEY TAKEAWAYS:

• Car Next Door, an innovative Australian start-up, released its quarterly report and progress sheet on 2 May 2018, wherein it listed all the developments that had taken place over the past quarter.
• This car-sharing venture was founded by Will Davies as an attempt to improve the environment and is equipped with multiple safety measures to ensure that both parties have a pleasant experience.
• Latest developments include launching the app and giving preference to urgent calls so as to improve the conversion rate for the company.

Car Next Door, an innovative Australian start-up created to benefit the environment, released its quarterly report on 2 nd May 2018 along with its progress sheet for the same quarter. One of the major developments concerns the launching of apps compatible with Android as also Apple and this was successfully achieved over the last quarter. As a result, now 43% of the bookings happen through apps, which also feature owner functionality.

Will Davies, a former mortgage broker set up Car Next Door because he felt strongly about the deteriorating environment. He came up with an ingenious car-sharing initiative wherein the interested party can search for a vehicle on the app/website, turn up at the location and use it.

There are safety measures in place, like keys being guarded by a lock-box or a one-time code, round-the-clock roadside assistance for drivers and provision of GPS tracker to ascertain the destination and the distance covered. Among the key developments over the past quarter, the primary has been putting into place a simplified yet effective system wherein deals that fall into the urgent category are swiftly approved. This creates a win-win situation for both parties wherein the customer acquires a vehicle at short notice and the company enjoys a high conversion rate.

Emphasis is also on self-service wherein customers approach the help centre and seek guidance as to how to go about utilizing the service. So, if your car is just occupying a parking space in the driveway, all you need to do is approach Car Next Door which would not just enable you to earn some extra money but also to help out your neighbours.

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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