Hagerty sells DriveShare to Drive Co

Six years ago, Hagerty acquired the only peer-to-peer online marketplace for classic cars in the nation and relaunched it as DriveShare .

Today, the platform has almost 3,000 vehicles accessible throughout the US. It has been purchased by Drive Co, a UK company that also operates platforms such as BookAClassic and Vinty.

All current DriveShare bookings will be honored and insured by Hagerty. However, starting from October 10, 2023, new bookings will no longer be accepted. Additionally, while the name ‘DriveShare’ will remain unchanged, references to ‘Hagerty’ will be removed. Users can anticipate a website refresh in the coming months.

A Hagerty spokesperson provided Coverager with the following statement:

“Hagerty made the strategic decision to divest DriveShare to DriveCo, a UK-based company that owns similar offerings including BookAClassic and Vinty. With their existing platform and experience, DriveCo has the expertise and knowledge to lead DriveShare to its next chapter.

As we think about our long-term strategy and our focus on our profitable growth, we concluded that DriveShare is no longer a part of our core portfolio of businesses to achieve our strategic objectives. Hagerty remains committed to serving car enthusiasts through our broad range of products and services including Insurance, Hagerty Marketplace, Hagerty Drivers Club, and Hagerty Media and Entertainment.”