Global Automotive Subscription Services Market (2023-2028) by Service Providers, Subscription Type, Subscription Period, Vehicle Type, and Regional Analysis, AI and Sustainability Footprints, and Market Success Strategies

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The Global Automotive Subscription Services Market is set to surge from USD 3.1 Bn in 2023 to a projected USD 7.67 Bn by 2028, growing at a CAGR of 19.85%.

Global Automotive Subscription Services Market


Subscription-based models have already taken over many industries, but subscriptions in the automotive industry allow customers to avail of cars without any burden of buying and owning. As the years pass, the cost of owning and maintaining a car is becoming a burden on consumers’ pockets. Increasing car loans, insurance prices, and depreciation costs even though they are not paid out of their pocket. The growing population also contributes to huge traffic congestion. Generations Y, Z, and Meta are already live in the subscription world. Even companies like Porsche and Hyundai are jumping into the automotive subscription model as a crucial strategic decision.

Lifestyles are changing; people nowadays have different viewpoints. Gen Z, Y, and Meta are growing in a period where rising inflation and prices are normal for certain reasons. Minimal commitment that allows clients to rent a car without much pressure of owning a car. Getting rid of all maintenance and insurance headaches and regular rental payments are often less than a one-time payment for buying a new car.  

Segment Analysis

The Global Automotive Subscription Services Market is segmented based on Service Providers, Subscription Type, Subscription Period, and Vehicle Type.

The global automotive subscription services market is experiencing significant growth, with a comprehensive analysis revealing distinct trends based on subscription types. The market overview indicates a promising landscape, characterized by sizeable opportunities and a positive forecast.

Single Brand Subscription services, denoting exclusive access to a particular automaker’s fleet, contribute substantially to this market dynamism. Consumers are increasingly drawn to the convenience and flexibility of single-brand subscriptions, which often include maintenance, insurance, and other benefits in a bundled package.

On the other hand, Multi-Brand Subscriptions, encompassing access to diverse vehicle models from different manufacturers, are gaining traction, reflecting a shift in consumer preferences towards variety and adaptability. The market’s buoyancy can be attributed to these dual trends, underscoring the evolving automotive landscape as subscription services redefine traditional ownership models, providing consumers with unparalleled flexibility and a seamless automotive experience.

Regional Analysis

The United States and Canada have seen significant automotive subscription services growth. Consumer interest in flexible vehicle ownership models is on the rise. Regulatory environments and the presence of numerous automakers contribute to the market’s growth. Services may vary from single-brand subscriptions to multi-brand offerings.

Europe: Europe is a mature market for automotive subscription services. Countries like Germany and the United Kingdom have strong automotive industries, and subscription services often include premium brands. The European market is known for its strict emission regulations, which influence the types of vehicles available in subscription programs.

Asia-Pacific: In Asia-Pacific, especially in countries like China and India, there’s a growing interest in automotive subscription services, driven by a burgeoning middle class and a desire for convenience. Many automakers and startups are entering this market, offering single-brand and multi-brand subscription options. The regulatory landscape can vary widely across the region, impacting the availability of certain services.

Middle East and Africa: This region’s automotive subscription services market is still emerging. The availability of these services may be limited compared to more mature markets. Consumers often prefer high-end and luxury brands. Regulatory and infrastructure challenges can impact the market growth in this region.

Latin America: Latin America is seeing some growth in automotive subscription services, particularly in countries like Brazil and Mexico. Economic factors, consumer preferences for vehicle types, and regulatory conditions shape the market. Providers may tailor their offerings to suit the needs of the local population.


List of Companies

The report provides profiles of the key companies, outlining their history, business segments, product overview, and company financials. Some companies from competitive analysis are Audi, BMW, Borrow, Cadillac, Carvolution, Clutch Technologies, etc.


Key Developments

Tesla has launched an electric vehicle and zero emissions vehicle subscription program for the Model 3, rebranding under the consumer brand ‘Autonomy.’ The company acquired the global domain and the app store, allowing consumers to reserve and manage their subscriptions through three distinct channels. – Jan 2022

Volkswagen joined with MILES Mobility to accelerate the expansion of its sharing portfolio. Both parties have agreed not to disclose the purchase price. Also, in the context of the new partnership, MILES has ordered more than 10,000 all-electric vehicles from the Audi, Seat/Cupra, and Volkswagen Passenger Cars brands, which are scheduled for delivery in 2023.- Jan 2022


Frequently Asked Questions

How Much Is The Global Automotive Subscription Services Market Size?

The Global Automotive Subscription Services Market is set to surge from USD 3.1 Bn in 2023 to a projected USD 7.67 Bn by 2028, growing at a CAGR of 19.85%.

What Is The Major Global Automotive Subscription Services Market Driver?

  • Rising Adoption of Vehicle Subscription Services
  • Growing Demand for Short-Term Mobility Solutions

What are the Major Automotive Subscription Services Market Opportunities?

  • Rising Adoption of Flexible Mobility Solutions
  • Subscription is a Way to Ignite Car E-commerce

Which Region Held The Highest Share In The Automotive Subscription Services Market?

North America offers a High Potential for Dealers to Expand their Business and OEMs to Add New Services to Meet Increasing Demand.

Who Are The Automotive Subscription Services Market Players?

Audi, BMW, Borrow, Cadillac, Carvolution, Clutch Technologies, etc.

1. Introduction
1.1 Scope of the Study
1.2 Purpose of the Study
1.3 Limitations of the Study
1.4 Currency

2. Executive Summary
2.1 Market Definition
2.2 Market Size and Segmentation
2.3 Insights for CXOs

3. Market Forces
3.1 Drivers
3.1.1 Rising Cost of Vehicle Ownership & Shifting Consumer
3.1.2 Growing Demand for Short-term Mobility Solutions 
3.2 Restraints
3.2.1 Availability of Alternatives such as Vehicle Leasing and Sharing
3.2.2 The leasing Model is Cost-Efficient Compared to Subscription Schemes
3.3 Opportunities
3.3.1 New Opportunity due to Pay-as-you-go Subscription Model
3.3.2 Subscription Help Promote EV Ownership and Sales
3.4 Challenges
3.4.1 Heavy Assets Require Significant Upfront Capital

4. AI and Sustainability Footprints
4.1 Market Trends of AI and Sustainability
4.2 Application of AI - AI Adoption Levels
4.3 Environmental and Emission Reduction Initiatives

5. Market Analysis
5.1 Government Regulations
5.2 Patent Analysis
5.3 PESTLE Analysis
5.4 Porter's Five Forces Analysis
5.5 Pricing Analysis
5.6 Technology Trends

6. Market Segmentations
6.1 Global Automotive Subscription Services Market, By Service Providers
6.1.1 Market Overview, Size and Forecast
6.1.2 OEMs & Captives
6.1.3 Independent/Third-Party Service Provider

6.2 Global Automotive Subscription Services Market, By Subscription Type
6.2.1 Market Overview, Size and Forecast
6.2.2 Single Brand Subscription
6.2.3 Multi Brand Subscription

6.3 Global Automotive Subscription Services Market, By Subscription Period
6.3.1 Market Overview, Size and Forecast
6.3.2 1 to 6 Months
6.3.3 6 to 12 Months
6.3.4 More than 12 Months

6.4 Global Automotive Subscription Services Market, By Vehicle Type
6.4.1 Market Overview, Size and Forecast
6.4.2 ICE Vehicle
6.4.3 Electric Vehicle

7. Region Analysis of the Global Automotive Subscription Services Market
7.1 Americas
7.1.1 Brazil
7.1.2 Canada
7.1.3 Mexico
7.1.4 US
7.1.5 Others
7.2 Europe
7.2.1 France
7.2.2 Germany
7.2.3 Italy
7.2.4 Russia
7.2.5 United Kingdom
7.2.6 Others
7.3 Middle East & Africa
7.3.1 Israel
7.3.2 Nigeria
7.3.3 Saudi Arabia
7.3.4 South Africa
7.3.5 UAE
7.3.6 Others
7.4 Asia
7.4.1 Australia – New Zealand
7.4.2 China
7.4.3 India
7.4.4 Japan
7.4.5 South Korea
7.4.6 Others

8. Market Success Strategies
8.1 Best Marketing Practices
8.2 Market Entry Strategies

9. Competitive Analysis
9.1 Audi
9.2 BMW
9.3 Borrow
9.4 Cadillac
9.5 Carvolution
9.6 Clutch Technologies
9.7 Enterprise Rent-A-Car
9.8 Fair
9.9 Flexdrive
9.10 HyreCar
9.11 Lyft, Inc.
9.12 Mercedes-Benz Group
9.13 Porsche Passport
9.14 Revv
9.15 Rivian Adventure Network
9.16 Sonic Automotive One
9.17 The Hertz Corporation
9.18 Virtuo
9.19 Volvo Cars
9.20 Zipcar
9.21 Zoomcar

10. Case Studies
10.1 Analysis of Successful Companies
10.2 Lessons from Market Failures

11. Appendix
11.1 Research Methodology
11.2 Assumptions for the Report
11.3 List of Abbreviations

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