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