- Car-buying platform markets cars for 60 dealerships in metro Detroit
- Deliver My Ride plans to expand to Ohio, Indiana before going nationwide
- Pontiac-based company looks to sell 500 cars a month in designated market areas
CRAINS, September 19, 2018 – Deliver My Ride LLC has refreshed its online platform as it works to make the car-buying process simpler and grow into new markets.
After running a beta website for more than a year, the new version integrates live inventory with dealer networks that have signed with the e-commerce business, said Mike McInerney, who co-founded the company with Peter Karmanos Jr. early in 2017.
The company hopes to streamline the process with technology to feed many people’s need for instant gratification. Customers can compare rides in a designated market area, finance and set up delivery at one place. Prior to the update, Deliver My Ride didn’t display cars on its website, which would direct consumers to dealerships.
“I’m a senior and even I use the web to buy things,” Karmanos, the retired founder of Compuware Corp., said in a news release. “What do you think the next generations will demand from their car buying experience? They do everything online because its efficient.”
Deliver My Ride, which is based in Pontiac, is marketing itself as a tool for consumers and dealerships. It’s working with about 60 showrooms in the metro Detroit market, McInerney said.
“We spent about a year and a half finding data for suppliers, mapping information and getting equipment,” McInerney said. “We’re selling cars off [the dealer’s] lot to people looking for a convenient way to buy.”
McInerney and Karmanos partnered on the business with the goal to improve the point of sale for cars, which they found to be antiquated. McInerney, a legacy of the McInerney dealership family that has its roots in Detroit dating to 1964, said companies invest a lot in the products, but are not investing enough into selling. Without disclosing an exact amount, he said Deliver My Ride invested “significant” seven figures into the website redesign.
Deliver My Ride is in the Mad Dog Ventures Management LLC portfolio, which held a $26.7 million funding round earlier this year. It is located in about 8,000 square feet across two floors of the Riker Building in Pontiac with other Mad Dog businesses.
“We have long-term projections: Our goal is to sell 500 new cars per month” per market, McInerney said.
The service is available in metro Detroit with the goal of expanding to 80 markets across the country. That would mean 40,000 car sales per month at full scale. The company is looking to expand to Ohio and Indiana next before going nationwide.
Being an online company, Deliver My Ride can avoid the capital required for brick-and-mortar operations.
“We couldn’t scale the first product because there was too much manual labor,” he said. “Now we can just flip the switch and get it going.”