Drive YOYO expands to Bahrain in April
Berkman Cavusoglu, Co-Founder and CEO of Drive YOYO, a Turkish platform and mobile application offering car sharing services tells Global Fleet all about the car sharing evolutions in Turkey in 2016 and its plans for the Middle East.
How is evolving the Turkish corporate fleet market regarding car-sharing?
“Car-sharing in has not yet taken of in the Turkish corporate fleet market. There are two main reasons for this: (a) fleet companies are trying to gain customers only by fighting over rental price, instead of offering new and innovative products and/or services, (b) due to price wars in the market, fleet companies cannot manage to make any operational profit and thus forced to leverage their whole businesses on the profit they gain from buy-and-sell of cars, which I believe is not sustainable. The fierce fight over rental prices actually makes the operational leasing of a car quite cheap for the customer, outperforming the ‘pay-as-you-drive’ model that the car-sharing business offers to its customers. It can be 20-25% cheaper to hold a pool-car than operating a car-sharing service for the customer company with current market conditions in Turkey, because in its nature, car-sharing companies’ sole purpose is to run an efficient and profitable business over the core service; not making money from buy-and-sell of fleet.”
What are your perspectives on car-sharing for companies in 2016 and new offers at YOYO?
“For the last 3 years, YOYO has been focusing on the urban youth, ages between 25-35, who are white collared and have 2-5 years of work experience. We have set the ground for a stable operational growth with our 21,000 subscribers. And now it is time to move to the B2B sector since many of our subscribers are also employees of corporates. And we are also working on a business model where YOYO provides the car-sharing software and the hardware to different fleet companies whom will provide the service to their current fleet customers. We will be implementing the first trials in the end of April.”
What are your recent developments in the Middle-East for car sharing and for corporate car-sharing?
“Mobility services are seen a major future trend in the world. We are very flexible to offer different products and services to different customers and regions. Zain Telekom, the biggest telecom company in the Gulf region, approached us to offer a new service for their 55 million subscribers in 7 countries that they operate in. They are planning to diversify their product offer to their customers, while YOYO will be running the whole operations in the region with its car-sharing expertise, workforce, and of course the brand name. We are starting our first pilot tests in Bahrain in April, afterwards we will expand to Saudi, Arabia Kuwait, Jordan, Morocco, Lebanon, and Iraq. By leveraging Zain’s massive sales network and customer base as well as their regional dominance with our car-sharing technology and business experience, we plan to become the regions’ first and biggest car-sharing operator. We are quite excited to move YOYO to a global brand name.”
| 24/03/2016 | Antigone Vokou