CAR SUBSCRIPTIONS BY 2025 WILL MAKE UP 10% OF TOTAL VEHICLE SALES
All mainstream and luxury automotive brands are entering the vehicle subscription market with customized offerings. In addition to being highly flexible, vehicle subscription programs are perceived as more cost-effective than traditional car leases, rentals, or outright purchases.
16 MILLION VEHILCES
Subscription Programs are projected to account for 16 million vehicles
10% OF VEHICLE SALES
The US and Europe will have 10% of total sales through vehicle subscriptions
$100 BILLION INDUSTRY
Vehicle subscriptions are projected to be $100 billion a year
Vehicle subscription programs are picking up popularity more and more each day! A dozen Luxury car manufacturers have already created distinct brand identities for their subscription services, and subscription models are moving forward at least 7 dealer programs, 12 independent companies and 8 software platform providers.
Source: Frost & Sullivan, Future of Vehicle Subscription – Business Models and Opportunities