Getting consumers into a vehicle they can afford via a subscription is becoming a lucrative endeavor for DriveItAway Holdings.

This week, the provider of flexible vehicle subscriptions and mobility solutions that has partnered with Stellantis’ global mobility division announced preliminary unaudited revenue for July represented the highest monthly revenue in its history.

Based on the company’s internal accounting records, preliminary unaudited revenue for July increased approximately 17% compared with June and approximately 200% compared with July of last year.

DriveItAway acknowledged the July results are preliminary and unaudited, have not been reviewed or audited by the company’s independent accounting firm, and remain subject to normal accounting review and possible adjustment.

The company added the June results are also unaudited and remain subject to completion of the company’s quarterly reporting process.

However, leadership highlighted the record month reflects the continued expansion of DriveItAway’s vehicle fleet and customer base, together with the new growth initiatives implemented by the company this year.

These initiatives include its national collaboration with Free2move, a Stellantis mobility brand, and the shared-fleet initiative introduced earlier this year to help independent rental operators expand their businesses.

DriveItAway previously announced the expansion of its operating capability to service more than 40 U.S. markets. Based on preliminary internal results, the company generated sequential monthly revenue growth during each of the first seven months of this year.

“July’s preliminary results provide further evidence that the operating foundation we have built is beginning to translate into measurable revenue growth,” DriveItAway founder and chief executive officer John Possumato said in a news release.

“We believe our flexible-lease model addresses an increasingly important need in the automotive market by giving dealers another way to serve consumers for whom a traditional loan or lease may not currently be practical or desirable,” continued Possumato, who also is among the executives and experts set to appear during Used Car Week that begins on Nov. 16 in San Diego.

“In addition to affordability and flexibility, the reported early success of Carvana’s expansion into new-vehicle sales through franchised dealerships suggests that customers are increasingly receptive to a simpler, more streamlined way to acquire personal transportation,” Possumato went on to say. “DriveItAway enables participating dealers to address that preference through an app-based process designed to reduce traditional points of friction, from vehicle selection and income qualification through booking, while opening the door to consumers who may not fit traditional financing.”

DriveItAway’s app-based program allows qualified customers to begin with a flexible, month-to-month vehicle lease without a down payment or required credit-score threshold.

Customers may continue driving, return the vehicle in accordance with the program terms, or apply accumulated purchase credits toward the vehicle’s purchase if and when they choose to buy.

“Vehicle affordability remains a significant challenge for many consumers, particularly those who may have sufficient income to support a vehicle but lack the credit profile or upfront cash required for conventional financing,” Possumato said. “Our objective is to help dealers reach this underserved market with a flexible program that provides customers with immediate transportation and a potential pathway to ownership.

“We believe the combination of growing market demand, broader geographic availability and an expanding fleet positions DriveItAway for continued development,” he added.