Dealers interested in learning more about the growing vehicle subscription services market and how it could impact the automotive retail industry, can register for an upcoming webinar offered by Frost & Sullivan.
The webinar, set to take place Tuesday, October 9, 2018 at 12 p.m. EDT, will focus on the positive side of subscription programs — but will ultimately offer insights to dealers on how to better understand what is going on in this area of the business.
According to Frost & Sullivan’s news release, the vehicle subscription market is expected to represent a $100 billion business opportunity for OEMs, dealers and startups. More than 16 million vehicles are anticipated as being part of these services by 2025, with nearly 10 per cent of new car sales in Europe and the U.S. to be part of these programs.
“Vehicle subscription is a transversal theme that cuts across new/used vehicles, vehicle segments, ICE and alternate energy vehicles, OEMs and non-OEMs, regions, young and old drivers, and mainstream/ premium/super premium customers,” said Dr. Julia E. Saini, Global Vice President, Mobility, Aftersales and Retail, Frost & Sullivan.
“As car buying migrates to online platforms and smaller boutique stores, vehicle subscription is an opportunity for OEMs, dealerships, and new entrants to add value to their archaic business models,” said Saini.
Examples of OEM brand identities for vehicle subscription services include Canvas by Ford, Book by Cadillac, Care by Volvo, Porsche Passport, Mercedes-Benz Flexperience, Access by BMW, and CarpeDrive by JLR.
It is predicted that all vehicle manufacturers will offer these services across all key segments in the coming years. “It is set to emerge as one of the most disruptive mobility services of the future,” said Vishwas Shankar, Research Manager at Frost & Sullivan.
To register for the webinar, click here.
