Even without the current COVID-19 coronavirus crisis it was clear to everyone in the industry that automotive businesses are rapidly approaching a crossroads.
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.
Recent years have seen a marked shift away from private vehicle ownership, particularly in urban areas.
Lynk & Co chief executive has said that he will not employ franchised car retailers to sell his subscription-based SUV mobility service, branding showroom visits as what car buyers “hate most”.
Over a third of car buyers have expressed an interest in emerging car subscription services, according to survey results published by Motors.co.uk.
Car dealers need to work harder to offer customers a single payment car ownership solution in a bid to embrace the opportunities of an emerging shift towards subscription services.
Lexus claims that it has unlocked the doors to motorists’ dream garage with the launch of a new vehicle subscription mobility service delivering access to a CT200 hybrid hatchback from £619 per month.
Buying and running a car is not the set of discrete transactions it once was: drivers no longer buy a car from one place, have their vehicle serviced by another and then sell it on elsewhere.
As innovations go, it’s hard to match the impact of Henry Ford’s development of the assembly line in 1913.
A car subscription service which will allow consumers to pay monthly to drive vehicles from six different classes is being launched by the parent company of Enterprise Rent-A-Car, National Car Rental and Alamo Car Rental.
Volkswagen Financial Services and Drover has started a pilot to offer vehicle subscription services to UK customers starting from £514 a month.
Volvo Cars has introduced a direct consumer business arm as part of an executive restructure designed reshape “what a car is, how people expect to be transported and how they interact with a car”.
Geely’s Lynk & Co brand has claimed the title of the ‘world’s fastest growing car manufacturer’ after 120,414 sales in its parents company’s home market in its first year on sale.
Driver 1 has announced the launch of its car subscription service, offering car retailers the opportunity to monetise pre-registration stock.
Citroen, DS and Peugeot vehicles will be available on a month-to-month car subscription basis after PSA Finance struck up a partnership with mobility provider Drover.
PSA Finance will offer Peugeot, Citroen and DS vehicles on flexible subscriptions as part of a new mobility partnership with Wagonex.
As wider consumer trends and preferences change, successful companies such as Netflix and Spotify provide evidence of a growing move towards ‘subscription’ services.
Audi has announced its intention to “transform” itself into an EV mobility market provider with the launch of its Audi e-tron charging service.
Vehicle manufacturers are beginning to move away from pure vehicle sales towards offering more subscription based services to meet the growing needs of today’s customer.
Automotive Management Live: Where franchised and independent dealers will find everything they need to know about operating a modern showroom and service and repair facility fit for the digital age.
When: November 12 2020
Where: Birmingham NEC
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