The operational company is called HONK Business Solutions and will empower the marketplace through customer service, technology, and other services to boost providers on the platform. Together, Schibsted and Casi will unite supply and demand through Casi’s easy-to-use tech solution and the consumers of Schibsted’s marketplaces throughout the Nordics.
“We are happy to step the partnership up another notch, establishing a joint venture which is complementary in the value chain. We believe this initiative will ultimately democratize car subscription and empower the automotive industry to accelerate the segment. We have total confidence in the flexible ownership model and are determined to enable its growth,” said Henrik Littorin, CEO of HONK Business Solutions.
HONK Business Solutions AS (HBS) will be the operational company offering services to Schibsted’s car subscription marketplace HONK. HBS will be the legal counterpart for all providers on the HONK marketplace, ensuring a seamless onboarding of new providers and supporting providers in scaling their service. Schibsted will hold the majority ownership of the company.
With car subscription increasing in popularity and consumers wanting more flexible access to their own car, OEMs, dealerships, leasing companies, rental players, mobility companies and other automotive players will aim to include the business model in their product portfolio.
“We believe that everyone should be able to participate in this market. It’s been really difficult for the smaller players who would need to invest in tech, e-commerce tools, digital marketing, and more. Now, we’ve created a solution that opens up this space for everyone. A provider on the solution decides the branding and value proposition of their service and owns the revenue, customer base, and data. Providers having ownership over their service will ensure they have the autonomy to scale the business model as they would any of their other existing models; HBS is here to support them along the way,” says Hans Kristian Aas, the CEO and co-founder of Casi.
Providers can attract customers for their car subscription services through many different channels, such as social media and search engines. They can also utilize the brand of a global manufacturer, an importer, or through a dealer. Out of all these categories, we have found that the users from marketplaces, such as FINN, stand out. The cost of attracting a customer is lower, the user typically engages in longer, more profitable subscriptions, and we experience fewer issues with damages to the car and payment issues. This type of customer makes it much easier to scale a profitable business,” continues Aas.
Between Schibsted’s automotive user base and Casi’s leading-edge tech, providers are able to quickly begin offering car subscription and gain access to the users of HONK. Fleet owners with their own technical solutions are welcome to join HONK as well. As the market expands, it’s important that consumers can find the best service for their needs; meanwhile, the providers should have the tools to succeed with this revenue stream. HONK Business Solutions is proud to nourish both sides of the equation.
HONK Business Solutions will operate with resources from the owner companies, car subscription technology experts from Casi, and marketplace experts from Schibsted. Both parties want to enable automotive players to reach their full potential as car subscription providers, therefore teaming up to ensure the success of those they work with.
Contact: contact@casi.auto
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