PSA Finance will offer Peugeot, Citroen and DS vehicles on flexible subscriptions as part of a new mobility partnership with Wagonex.
Wagonex offers cars on subscription, through its partners, as an alternative to ownership or leasing.
Customers can sign up for flexible contracts that run from one month to two years and include insurance, roadside assistance, servicing and maintenance.
The PSA pilot will initially offer four models, before expanding to 10 by March 2019.
“The subscription model has transformed many other industries and the motor industry is moving in this direction as our relationship with owning things changes dramatically.
“Manufacturers now acknowledge this is the direction the automotive sector is heading which creates a significant opportunity for independent mobility brands like Wagonex to take the lead.
“The potential market is huge and the automotive sector is changing rapidly so it is an exciting time for our business,” said Toby Kernon, founder and chief executive officer at Wagonex.
A number of manufacturers are moving into the subscription space. Earlier this year Jaguar Land Rover launched InMotion and Polestar has said it will only offer its Polestar 1 model through a subscription model.
“Wagonex’s car subscription service offers a compelling alternative for people who may be reconsidering traditional car ownership models that no longer reflect their needs,” said Josh Ryan, mobility manager at PSA Finance.
“Developing Subscription propositions is a key growth initiative, supported by our UK and French leadership team, and we look forward to refining the model and deploying our expansion roadmap with our partners.”
The Wagonex system allows customers to find a vehicle, select a timeframe and budget that suits them and set up a tailor-made insurance policy.
Once they have made a decision, they simply click 'Get Car'.
As it is a subscription service, when customers’ needs change, they simply switch their car. Such flexibility means control lies with the customer.