Car subscription services allow customers to exchange vehicles for monthly or yearly pricing, the service includes registration, maintenance, 24/7 roadside assistance, liability insurance, and other features. This service is the flexible substitute for leasing or owning the cars, however, the subscription service is for a shorter period of time than the leasing service which allows users to change the cars frequently. It can be used for personal as well as corporate/business purposes.This growth is primarily driven by Growing Demand for Using Cars with Convenience, and in Cost-Effective Manner with Flexible Subscription Options and Increasing Popularity of Swapping Cars Frequently for Personal Applications.
Globally, a noticeable market trend is evident Increasing Consumption of Car Subscription Services by the Corporate Sector
. Major Players, such as Audi AG (Germany), Lexus (Japan), Porsche (Germany), Volvo Cars (Swede, Sixt SE (Germany), LMP Subscriptions (United States), Hertz Global Holdings, Inc., (United States), Carma Car Inc. (FreshCar) (United States), Maruti Suzuki (India), Flexdrive (United States) and Fleetpool GmbH (Germany) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
13th October 2021, ALD has signed an agreement to acquire Fleetpool, a leading German car subscription company, and its portfolio of c. 10,000 vehicles. The acquisition will enable ALD to rapidly develop digital car subscription services for partners, employees, and private individuals and expand the commercial reach of its mobility solutions across Europe.
On 28th June 2021, Maruti Suzuki India Limited (MSIL) announced the expansion of ‘Subscription’ services to four new cities - Jaipur, Indore, Mangalore, and Mysore. With this rollout, customers can now opt for Maruti Suzuki Subscribe services in 19 cities. MSIL has launched a marketplace model for Maruti Suzuki Subscribe that will serve as a unified platform to offer customized car subscription products through multiple partners at competitive rates.
- Growing Demand for Using Cars with Convenience, and in Cost-Effective Manner with Flexible Subscription Options
- Increasing Popularity of Swapping Cars Frequently for Personal Applications
- Increasing Consumption of Car Subscription Services by the Corporate Sector
- Emerging Trends Mobility Like Rising in the Car Sharing, and Ride-Hailing Services
- High Cost Associated with the Car Subscription Service which Does Not Help in Building any Equity
Rising Number of Automotive OEMs Entering into Car Subscription Service Market and Surging Partnership and Collaboration Projects by Companies in Car Subscription Services
Vehicle Damage Related Issues Involved with Car Subscription Services
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Car Subscription Services Study Sheds Light on
The Car Subscription Services Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Car Subscription Services industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Car Subscription Services industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.