DeLorean hires ad agency to launch the brand’s first new car in 40 years

Imitating sneaker culture

DeLorean is also stoking demand with a membership club and exchange program meant to mirror a sneaker business model like StockX, according to Wynne. 

Customers interested in purchasing an Alpha5 must pay an $88 membership fee, an homage to the 88 miles per hour speed required for the car to time travel in the “Back to the Future” movies. Once a member, people can then reserve a randomized production slot, which comes with an NFT, for a price that was originally $2,500 but goes up by $500 for every 500 reservations made. Through the exchange, members are able to transfer, trade or sell their slots to other members. Members are also able to have first access to any other product drops and VIP events.

De Vries confirmed that there are currently 20,000 members registered across 69 countries. The membership system has also helped the company create potential customer profiles, which could inform future marketing decisions, de Vries said.

“We are going to launch a product early next year [other than the Alpha5] that will try to cater towards the more traditionalists of the brand,” said de Vries, who declined to elaborate. While DMC declined to specify if the new product is a new car, Ogando hinted that “there are upcoming models that haven’t been announced yet.”

“What we’re seeing in our modeling is that it’s a fairly young group that’s going to be super excited by something that is maybe more stylistically on the retro spectrum than on the modern spectrum. Whereas if you look at the Alpha5, [the customers for that] is more the traditional, let’s say 45-55 [age range] … that is emotionally connected to the brand, but maybe not towards the DMC-12.”