Subscribe to your car, rather than buying it directly, leasing it, or renting it? According to our colleagues in the Southwest, the idea is gaining ground. The newspaper cites startups like the German Finn.auto or ViveLaCar which offer all-inclusive formulas (excluding gasoline) without commitment from 175 euros per month. Other startups offer co-subscriptions to share costs between several drivers.
The idea of setting up a sort of “automotive Netflix”, in other words subscription formulas without commitment and rather accessible to allow as many people as possible to enjoy a car at a lower cost is generating more and more interest. interest. The market could reach between 20 and 40 billion dollars by 2030, in the United States and Europe alone. In the short term, this could represent 15% of new car sales.
You will soon be able to subscribe and change cars every day if you feel like it
The evolution makes sense when you understand the renewed interest in leasing in recent years. This way of buying cars, which in the past appealed above all to companies and (auto) entrepreneurs, is becoming more democratic. There are also the new ways of consuming pushed by the internet. For example, physical music formats have practically disappeared in favor of streaming platforms like Spotify, Apple Music or Deezer.
Likewise, video streaming platforms have completely transformed the industry. Suddenly, even car manufacturers are also starting to take an interest in it. Renault, for example, has just bought a Spanish startup specializing in car subscriptions. The group now hopes that this sector will represent between 20 and 30% of its turnover by 2030. And Renault is not alone. Similar initiatives can be found around the Toyota, Volvo, and Stellantis brands.
In some cases, such as at Lexus in the Netherlands, customers may change vehicles quarterly. For example, you can opt as part of the subscription for a Lexus ES 300h just for the holidays, then a more compact Lexus UX 250h the rest of the time. Brands like Nissan go even further. In Texas, the manufacturer offers the Nissan Switch subscription, which allows you to change cars every day if you wish.
You have to pay around 450 euros. All other costs like insurance, maintenance and emergency assistance are included. We can see that what customers are looking for above all is more flexibility and less commitment than with current formulas. Leasing has its constraints: if you break the contract earlier, you may be forced to pay part of the remaining monthly payments. It is also necessary to show white paws with quantities of documents that not all potential customers of this type of offers can necessarily provide.
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The subscription significantly reduces these barriers. It remains to find the most attractive, profitable and sustainable formula over time. BMW, Cadillac, and even Mercedes have launched offers of this type before giving it up for the moment.
