Asoka Veeravagu wants to reinvent the automotive experience. Veeravagu is CEO and co-founder of Revolve, a luxury vehicle subscription service that gives car enthusiasts access to a revolving selection of luxury vehicles from top brands.
Members use the Revolve app to create a virtual garage of their seven most-desired vehicles, filling their virtual garage with models from brands such as Maserati, Tesla, Porsche and BMW. Each vehicle is delivered to the subscriber and exchanged every two months for the next vehicle in the driver’s queue.
Veeravagu’s passion for automobiles began as a child playing with Hot Wheels, Legos and go-carts. His passion for cars would lead to a mechanical engineering degree from MIT. He would eventually become an engineering executive for General Motors. It was at GM where the seed of the idea for Revolve would take root.
As an executive, Veeravagu had special access to GM's captured test fleet, a massive research and testing facility housing over 500 cars of every make and model. Veeravagu compared his access credentials to a “library card for cars”. It was here where he began to contemplate the notion of car accessibility over car ownership. “There was a business need for [the fleet], but as a car guy, I looked at it and said, ‘why doesn’t this exist in the consumer space,’” said Veeravagu.
Veeravagu takes inspiration from Amazon in his approach to service; convenience being a primary objective. By removing the hurdles of traditional car leasing and ownership, Revolve can offer its members a seamless Amazon-like automotive experience.
Revolve currently offers two pricing tiers: Enthusiast and Luxury. For around $2600 per month, subscribers in the Enthusiast tier have access to vehicles in the $110,000 to $160,000 price range. Luxury tier subscribers pay around $2,000 a month for cars ranging from $80,000 to $110,000.
Revolve’s target market are consumers who want variety in brands and flexibility in terms. While Veeravagu notes that his company is not in the business of selling cars, he acknowledges that members—who may have once been loyal to a specific brand of automobile—will often gain a new appreciation for other brands after sampling Revolve’s fleet of vehicles, thus informing future vehicle purchases.
Since its launch three years ago, Revolve has been operating in the South Florida market but plans to expand in the near future. According to Veeravagu, “Our vision is to become the first nationwide subscription service for higher-end and luxury cars.”
“At the end of the day, we’re not in the product business,” Veeravagu said. “We’re really taking car—which was a product that you bought and parked in your driveway for years on end—and we’re turning car into an experience, car as a service and even car as a lifestyle.”
For more information about Revolve, visit https://driverevolve.com/.