Carly Holdings achieves strong growth in 2020

Strong Growth in 2020

Carly prospered in 2020, as many individuals and businesses became aware of the benefits of car subscription as a lower risk alternative to long term financial commitment for vehicles.

Unlike other companies impacted by COVID-19, the demand for Carly car subscription remained strong during 2020. New car subscription sign ups exceeded pre-COVID figures – Carly saw a 221% increase in live subscriptions in the 12 months to 30 September 2020. The average subscription period also increased to more than 5 months, suggesting that existing customers are happy with the service and it is meeting their financial and transport needs.

Carly’s December 2020 Quarterly Activities Report summarised some of the more recent highlights:

  • 137% increase in Subscription Transaction Value vs. December 2019 Quarter
  • Signing of vehicle supply agreements with leading automotive dealers – The Alto Group in New South Wales and Ringwood Mazda in Victoria
  • Expansion of the electric vehicle fleet with the addition of Hyundai Ioniq EV and Ioniq PHEV vehicles
  • The addition of Genesis luxury vehicles to the Carly and DriveMyCar platforms
  • Change of name to Carly Holdings Limited to better align with the main focus of operations and to leverage increasing brand awareness

With over 10 years experience in the automotive industry through their businesses, Carly and DriveMyCar, Carly Holdings has established a strong reputation of trust and has been chosen by leading automotive companies such as major shareholders, SG Fleet, Turners Automotive and RACV, as well as Hyundai, Subaru, Peugeot, Suttons Motors and Uber to deliver innovative mobility solutions in Australia & New Zealand.

About Carly Holdings Limited (ASX: CL8)

Carly Holdings (ASX:CL8) is an Australian online technology company that is leading the growth of the car subscription industry in Australia & New Zealand. Carly Holdings launched Carly, Australia’s first flexible car subscription service in March 2019.

Carly car subscription is a fast and flexible alternative to finance or outright purchase of a vehicle that does not require the ongoing commitments of ownership or long term debt. Subscribers simply pay a monthly fee that is inclusive of all registration, insurance, maintenance and roadside assistance costs, and all they have to cover is fuel and tolls. The vehicle can be ‘switched’ for another vehicle if requirements change, or cancelled anytime with 30 days notice.

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