Wagonex has launched an updated version of its plug-and-play subscription platform, making it easier for dealers to unlock the potential of vehicle subscriptions.
The company’s web-based technology offers dealers bespoke solutions to open up a potentially lucrative new revenue stream through vehicle subscriptions.
Wagonex offers everything a retailer needs to get up-and-running, from its own fully-branded online portal, through to insurance brokerage, customer checks, online contract exchange, digital marketing and payment management.
The company claims it can set-up a full subscription service for any dealer in a matter of weeks, providing an additional means of monetising stock.
Research suggests that by 2025, vehicle subscriptions will account for around 10% of all car and van registrations, with traditional offerings such as outright purchase, leasing and PCPs becoming less appealing to consumers.
Toby Kernon, CEO at Wagonex, said: “All the evidence and research suggests subscription is going to become a bigger and bigger part of the automotive retail mix and Wagonex makes it easy for dealers and dealer groups to get on board.
“These days the market’s more competitive than ever before and every potential customer can shop around to find the deal that’s best for them. It could well be that offering vehicles on a subscription basis could be the difference between moving a vehicle on or it sitting on a forecourt.”
The subscription model offers consumers additional convenience and flexibility with minimum hassle. Customers can browse and order online, handle all insurance and maintenance with the click of a mouse and arrange delivery direct to their own front door.
There are no large deposits to make and the ability to choose subscriptions of between one month and 24 months means customers can change their car regularly.
“With the disruption caused by the pandemic and the shift this has brought about in consumer behaviour and confidence, now is the perfect time for dealers of all sizes to begin their journey towards subscriptions,” Kernon added.