To give someone a ride. It used to be used in the context of the bicycle, when you rode and had your passenger sitting on the handlebars. Now it applies to any form of transportation where a person getting a ride is getting the "tow", including cars, motorcycles, shopping carts, etc.
Yo son, I need a tow. Come scoop me, I need you to shoot me to the mall.
by Kyle with a shout out to the hollywood cartel November 02, 2007