Mycardirect subscription service launches to rival traditional retail

A new web-based car subscription service has launched in the UK, providing an alternative to traditional retailing, leasing and rental.

Mycardirect offers all-inclusive packages ranging from one to 24 months, providing maintenance, VED, tyres via one monthly payment.

It is part of fleet services provider AAM Group and is led by Duncan Chumley (pictured) who has 24 years of automotive industry experience, having held senior positions within the PSA Group and Mercedes-Benz.

Subscriptions are available on new and nearly-new (up to two years old) cars from a broad range of manufacturers.

Electric and hybrid vehicles are available alongside conventional petrol and diesel models.

Offers start at £329 per month, for a Peugeot 208.

Chumley said: “I am very confident that customers will love the flexible, hassle free, 100% online experience and the innovative, all-inclusive subscription package.”

Industry analysts Frost & Sullivan claim car subscriptions will account for 10% of all new vehicles retailed in the US and Europe by 2025 – 16 million vehicles in total.

In 2019, Motors.co.uk's Consumer Insight Panel survey found that 34.6% of buyers expressed an interest in car subscription services.

Companies including Enterprise and Intelligent Car Leasing, alongside car manufacturers including PSA Group (Wagonex), Lexus (Drover), Volkswagen and Volvo have already launched their own subscription services.

New entrants, including Polestar and Lynk & Co are also focussing on subscription-based platforms.