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'Younger people' target of new £699 per month Cupra Born EV subscription, says VWFS

Cupra Born

Volkswagen Financial Services (VWFS) has partnered with Wagonex to pilot a subscription service for the new Cupra Born performance electric vehicle (EV).

The Catalonian brand’s new EV hatchback, which is arriving in UK dealerships now with a starting price of £34,715, is being offered on a three-month subscription package which includes the cost of the vehicle, insurance, roadside assistance, 24/7 Driverline support as well as any maintenance.

But while the Born is currently being offered for £343.73 per month over the term of a 48-month, 6% APR PCP finance contract via the Cupra website (with a £6,943 deposit), subscriptions start from £699 per month for the mid-range V2 Born.

A statement related to the new subscription pilot suggested that “younger people” would be keen to take-up the all-in-one service.

It said: “Research by Volkswagen Financial Services UK (VWFS) has found that 61%* of people aged 18 to 34 are interested in accessing a car via subscription, similar to services such as Netflix, where you can cancel anytime.

“With younger people more commonly consuming music, TV and even food at the click of a button, the millennial consumer is evidently keen to embrace the subscription model in other areas of their lives.”

The Cupra Born is the first Cupra model to be sold via an agency model retail agreement with franchise as part of a strategy adopted for EV models from across the Volkswagen Group.

Commenting on the new subscription service, Richard Harrison, the managing director at Cupra UK, said: “This new subscription service reflects the shift in which an increasing number of our customers want to own and interact with our cars to meet their changing lifestyles – and there’s no better car to launch with than the award-winning CUPRA Born.”

John Lewis, the head of product strategy and development at Volkswagen Financial Services UK, said: “We’re hugely excited to mark the launch of the Cupra Born in the UK with a new subscription service.

“The way that people are using cars is fast evolving and we need to make sure that, as our customers continue to engage more with digital technology, we make their online journey as simple and as convenient as possible.

“Our partnership with Wagonex underlines our commitment to putting the customer at the heart of everything we do.”

Toby Kernon, CEO at Wagonex, said: “This collaboration represents a real vote of confidence in the industry-leading technology we have built from the ground-up to streamline and simplify the subscription process for brands like Volkswagen Financial Services UK and Cupra.

“We look forward to working with these brands and further increasing the range and availability of vehicles available on subscription to meet with the growing consumer demand for flexibility.”

Volvo Car UK has seen some success with its Care By Volvo subscription offering since its UK launch.

Last September the Swedish premium car brand said 2,500 cars had been delivered via the scheme in its first year, accounting for 15% of all its UK retail sales.

Volvo said at the time that Care by Volvo’s performance reinforced its belief that online sales will accelerate with the brand anticipating that the majority of its retail sales in the UK will be transacted online – both for retailer-assisted and direct sales – by 2025.

Globally, Volvo expects all its sales to be conducted online by 2030.

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