BMW Acquires Parking App to Help Motorists Tackle Woes of Urban Traffic

BMW has acquired the parking app, Parkmobile as part of its venture into added mobility services. Parkmobile is the largest mobile parking services provider in North America. This new acquisition will help BMW to come up with a parking product that it can market in all parts of the world. BMW also says that the deal was done with the goal of helping motorists handle urban traffic woes across the world.

According to BMW, almost 30 percent of city traffic congestion is caused by people looking for parking spots. This is why BMW thought that it would be a good idea to come up with a plan to help people find parking spots so that it could not only reduce road congestion but also minimize one of the issues that creates stress while driving. With autonomous and electric cars becoming a reality and fleetsharing concepts gaining currency, people need to stay interested in the concept of personal car ownership. People are less likely to use Uber or Careem and buy a BMW if they have greater confidence that they can easily find parking spots when they are in a hurry.

BMW has had a minor stake in Parkmobile from 2014, an it was getting increasingly interested in all aspects of mobility. Now, as to whether BMW has the expertise and capability needed to expand Parkmobile’s existing footprint and actually make a difference to its customers in all parts of the world, that remains to be seen.