Will car subscriptions become the new norm?

Written by Jenny

Owning a car could soon become a thing of the past, with buying outright or on loan set to be replaced by vehicle subscriptions and personalised rentals.

This is the opinion of many motorists questioned by Avis Budget Group for its The Road Ahead: The Future of Mobility Report, with 44 per cent of drivers in the UK saying they would be willing to swap to this type of on-demand mobility in future.

 

Alternative solutions to showroom purchases

Globally, the firm found 54 per cent of those surveyed are open to alternative mobility solutions, with 68 per cent saying they don’t think car ownership will be the norm within the next decade.

Some 59 per cent suggested they expect to see a growing number of subscription models for cars and vans coming soon – as long as these on-demand services are offered at a reasonable price.

President of Avis Budget Group Keith Rankin said: “People today want to consume and access products and services at the click of a button. It’s imperative that different mobility players work together to ensure the future needs of consumers are met.”

Jenny Smith, general manager for Tele-Gence, commented: “We’re so used to our on-demand products like Netflix that it seems many drivers can’t see why the same model can’t be applied to mobility. We’d agree with this and look forward to seeing if these predictions come true.”

 

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Posted on 3rd December 2019

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