Posted on Oct 16, 2020 at 12:06 PM
Renault and Marcel, it’s over. The automaker confirmed Thursday, as revealed by “La Tribune”, that it sold the VTC platform at the end of September. acquired in summer 2017 through its subsidiary RCI Bank & Services. The company is taken over by Ascom, a holding company which notably owns the network of multi-brand Bymycar car dealerships. The price of the transaction was not specified.
Launched in 2014 in the booming market of VTC, Marcel originally relied on a differentiating strategy to find a place in the shadow of the giant Uber. To attract drivers, it offered them a low commission rate (15%), while offering flexibility in the management of their schedule so that they could also take care of their private customers. On the customer side, the platform initially focused on races booked in advance, due to a lack of vehicles to meet immediate demands.
A market that has remained ultra-competitive
The company won over Renault, which wanted at the time, like most manufacturers, to develop its mobility services. Marcel, for his part, thought to take off with a shareholder who had the means to fill his notoriety deficit and set up the service outside the Ile-de-France.
At the same time, the market remained ultra-competitive , especially to attract drivers, and required investments in marketing and bonuses that the manufacturer did not make. The accounts remained in the red.The creation in the fall of 2019 of a subsidiary dedicated to mobility services, in which Marcel was housed resulted in the departure of the co-founder and CEO, Bertrand Altmeyer, a few weeks before the boss of this branch is himself fired.
An activity left to itself
Since then, the VTC activity seemed to be on its own, the management of the Losange having much more crucial problems to deal with the devastation of the Ghosn affair. The market plunge , because of the health crisis, only accelerated Renault’s decision to separate from the company. Luca De Meo, the new boss, has announced his intention to create a “New Mobility” pole under the Mobilize brand, but it will therefore be without Marcel.
The buyer, Ascom Invest, claims 500 million euros in assets under management, “mainly in the service and automotive sector” with the automotive distributor BymyCar. It intends to continue with the platform “its strategy of expanding its service offering” mobility as a service. However, it seems unlikely that Marcel will stay for the general public.