Intelligent Car Leasing claims to have launched the market’s first broker-provided car subscription service in partnership with the Wagonex car subscription marketplace platform.
It said in a statement issued to coincide with the new product’s launch this week that it was the first broker to provide “a flexible service, where customers will be able to sign up for a subscription that includes all services bar fuel”, for periods ranging from six months to 24 months.
Intelligent Car Leasing’s offer provides customers with a choice of cars with no upfront costs and covers insurance, maintenance, as well as roadside recovery, in an inclusive monthly package.
The service also allows users to swap between vehicles every six months.
It aims to respond to a trend which industry analysts Frost & Sullivan claim will see car subscriptions account for 10% of all new vehicles retailed in the US and Europe by 2025 – 16 million vehicles in total.
Earlier this year Motors.co.uk's Consumer Insight Panel survey found that 34.6% of buyers expressed an interest in car subscription services.
It came as leading leasing companies including Enterprise and car manufacturers including PSA Group (Wagonex), Lexus (Drover) and Volkswagen launched their own subscription services in response to the impending arrival in the market of new entrants including Lynk & Co, which are focussing on the platform.
Marc Murphy, head of sales and marketing at Intelligent Car Leasing, said: “Increasingly, consumers want new ways to access the services they desire, whether it’s for films, clothes or for online deliveries.
“We believe now is the time for consumers to switch on to the benefits of car subscriptions, where all services are wrapped into the one package, and there’s the flexibility to choose different cars when they want and to stop the subscription at their convenience.
“It really is the next step forward in car usership models.”
Wagonex head of platform, Joakim Thomtes, said: "We are an established player in the subscription market, and partner with a number of recognised automotive brands. This now includes Intelligent Car Leasing in the broker space."