Over a third of car buyers interested in subscription services

Over a third of car buyers have expressed an interest in emerging car subscription services, according to survey results published by Motors.co.uk.

As car manufacturers, retailers and leasing providers all roll-out flexible mobility services based on “usership” rather than ownership, online marketing specialist’s latest Consumer Insight Panel survey found that 34.6% of buyers expressed an interest in car subscription services.

Response to car-sharing schemes was slightly less positive, with just over a quarter (28.8%) saying they would consider sharing a car with a friend if it meant reducing their monthly motoring costs, dropping to 19.4% that would consider sharing with a stranger, even if it reduced monthly motoring costs by 30%.

Dermot Kelleher, Motors.co.uk’s head of marketing and business intelligence, said: “With a new generation of buyers used to paying subscriptions for entertainment services, we can also see some evidence of younger cohorts, and those in London in particular, being more open to these new models.”

Despite the apparent rise in the number of motorists considering schemes which facilitate car “usership”, most buyers still want to financially own their vehicle, according to Motors.co.uk.

Its latest survey, which polled over 1,000 car buyers, found that over three-quarters (75.8%) still want to own their car.

Exclusive access to a vehicle was favoured by 80.4%, meanwhile.

Kelleher said: “Our consumer research shows that when it comes to cars, ongoing, exclusive access to a vehicle of their own is a priority for the majority and whilst Personal Contract Purchase and Personal Contract Hire are not technically outright ownership, they provide people with the reassurance of exclusivity and status.”