Your Next Car Might Be A Subscription

Summary:

  1. In a bid to keep potential customers from defecting to ride-hailing services and foregoing personal car ownership, brands like Volvo, Cadillac, and Porsche are upending the traditional retail model by developing app-based monthly subscription services that provide vehicles on demand.
  2. But as long as consumers still pay for private vehicles, transitioning to a subscription sales model is likely to have little immediate impact on how our cities look, says Gabe Klein, cofounder of CityFi, an urban advisory services firm, and the former Commissioner of Chicago and Washington, D.C.’s departments of transportation.
  3. Klaus Zellmer, president and chief executive of Porsche Cars North America, says the program could appeal to parents who need an SUV during the week but want a sports car for the weekend, or to a Hollywood director in town for a three-month shoot.

Sources: https://www.fastcompany.com/40538266/your-next-car-might-be-a-subscription

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