Product Code: 4847
The global car subscription market is slated to expand exponentially through 2032, fueled by the opportunities created by strict world government regulations for vehicle emission control. In addition, growing customer aversion towards purchasing a new automobile is also likely to shape the industry scenario. This trend has primarily been observed among the younger demographic.
These developments have paved the way for a number of automotive subscription services across developed and emerging economies. For instance, the South Africa arm of Japan's automotive giant, Toyota, teamed up with Kinto, a multi-mobility application that makes commuting across urban areas easier, to introduce the Kinto One car subscription service in the country.
This new service would allow motorists to reap all the benefits of driving a brand-new vehicle without dealing with the hassles of owning one.
The car subscription market has been divided in terms of service provider, vehicle, subscription period, and region.
In terms of service provider, the industry is witnessing strong efforts from the OEM segment. Many vehicle manufacturers are rolling out their own subscription-based mobility services in response to the ongoing consumer shift. Back in November 2022, Kia Germany unveiled its Kia Flex subscription service, where customers would be able to subscribe to a particular set of Kia models for a specified period ranging from 6, 12, to 18 months starting December.
Based on vehicle, the executive car segment is expected to amass sizable revenue by 2032. Executive vehicles are four-door saloons or sedans designed specifically for working professionals or business executives. Leading companies in the market such as Toyota Corporation, Hyundai Motors, and Volkswagen AG, provide executive automobiles through their automotive subscription service options which will help bolster segmental growth.
With respect to subscription period, the 6-12 months segment is estimated to grow at more than 37.5% CAGR from 2023 to 2032. Increasing prevalence of consumer vehicle usage is pushing service providers to open subscription for longer durations such as 6-12 months. Back in August 2022, STEER Technologies Inc., introduced its electric car subscription service in British Columbia, Canada, adding the region as a new service area.
From the regional perspective, the North America car subscription market is projected to witness strong growth, owing to the well-established vehicle production base in countries like the US, which is home to automotive giants such as General Motors, Ford, Fiat Motors, and Tesla Motors.
These automakers are shifting their focus on developing EVs and mobilizing compatible charging infrastructure. Recently, the US administration also announced the approval of plans for the first 35 states to build out EV charging stations across 53,000 miles of highways.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Scope & definitions
- 1.2 Methodology and forecast parameters
- 1.3 COVID-19 impact
- 1.3.1 North America
- 1.3.2 Europe
- 1.3.3 Asia Pacific
- 1.3.4 Latin America
- 1.3.5 Middle East & Africa
- 1.4 Data Sources
- 1.4.1 Secondary
- 1.4.2 Primary
- 1.5 Industry Glossary
Chapter 2 Executive Summary
- 2.1 Car subscription industry 360 degree synopsis, 2018 - 2032
- 2.2 Business trends
- 2.2.1 Total addressable market (TAM) trends, 2023 - 2032
- 2.3 Regional trends
- 2.4 Service provider trends
- 2.5 Vehicle type trends
- 2.6 Subscription period trends
Chapter 3 Car Subscription Industry Insights
- 3.1 Introduction
- 3.2 Impact of COVID-19 outbreak
- 3.2.1 By region
- 3.2.1.1 North America
- 3.2.1.2 Europe
- 3.2.1.3 Asia Pacific
- 3.2.1.4 Latin America
- 3.2.1.5 Middle East & Africa
- 3.2.2 Strategies by major players to regain pre-COVID level growth
- 3.3 Impact analysis of Russia-Ukraine war
- 3.4 Technological evolution
- 3.5 Car subscription industry ecosystem analysis
- 3.5.1 Automotive OEMs
- 3.5.2 Cloud service providers
- 3.5.3 Third party service providers
- 3.5.4 Industry association and government authorities
- 3.5.5 Insurance and maintenance service providers
- 3.5.6 System integrators
- 3.5.7 End-users
- 3.5.8 Vendor matrix
- 3.6 Technology & innovation landscape
- 3.6.1 Mobility-as-a-Service
- 3.6.2 Usage-based insurance
- 3.7 Patent analysis
- 3.8 Investment portfolio
- 3.9 Industry news
- 3.9.1 North America
- 3.9.2 Europe
- 3.9.3 Asia Pacific
- 3.9.4 Latin America
- 3.9.5 Middle East & Africa
- 3.10 Regulatory landscape
- 3.10.1 International Standards
- 3.10.2 North America
- 3.10.3 Europe
- 3.10.4 Asia Pacific
- 3.10.5 Latin America
- 3.10.6 MEA
- 3.11 Industry impact forces
- 3.11.1 Growth drivers
- 3.11.1.1 Growing demand for car leasing services
- 3.11.1.2 Cost-effectiveness associated car subscription services
- 3.11.1.3 Rising penetration of third-party car subscription service providers
- 3.11.1.4 Stringent government regulations regarding emission control
- 3.11.1.5 Lack of proper public transportation infrastructure in developing countries
- 3.11.2 Industry pitfalls & challenges
- 3.11.2.1 Inadequate transportation infrastructure
- 3.11.2.2 High monthly charges for short-term subscription
- 3.12 Growth potential analysis
- 3.13 Porter's analysis
- 3.13.1 Bargaining power of suppliers
- 3.13.2 Bargaining power of buyers
- 3.13.3 The threat of new entrants
- 3.13.4 The threat of substitute
- 3.13.5 Competitive rivalry
- 3.14 PESTEL analysis
- 3.14.1 Political
- 3.14.2 Economic
- 3.14.3 Social
- 3.14.4 Technological
- 3.14.5 Legal
- 3.14.6 Environmental
Chapter 4 Competitive Landscape, 2022
- 4.1 Introduction
- 4.2 Company market share, by revenue, 2022
- 4.2.1 Competitive analysis of major Car subscription players, 2022
- 4.2.1.1 AB Volvo
- 4.2.1.2 BMW AG
- 4.2.1.3 Daimler AG
- 4.2.1.4 Toyota
- 4.2.1.5 Volkswagen AG
- 4.2.2 Competitive analysis of market innovators, 2022
- 4.2.2.1 Drover Limited
- 4.2.2.2 Fair Financial Corp
- 4.2.2.3 LeasePlan Corporation
- 4.2.2.4 Lyft
- 4.2.2.5 ZoomCar
- 4.2.3 Vendor adoption matrix
- 4.2.4 Strategic outlook matrix
Chapter 5 Car Subscription Market, By Service Provider
- 5.1 Key trends, by service provider
- 5.2 Original Equipment Manufacturer (OEM)
- 5.2.1 market estimates and forecast, 2018 - 2032
- 5.3 Third-Party Service Providers
- 5.3.1 market estimates and forecast, 2018 - 2032
Chapter 6 Car Subscription Market, By Vehicle type
- 6.1 Key trends, by vehicle type
- 6.2 Luxury Car
- 6.2.1 market estimates and forecast, 2018 - 2032
- 6.3 Executive Car
- 6.3.1 market estimates and forecast, 2018 - 2032
- 6.4 Economy Car
- 6.4.1 market estimates and forecast, 2018 - 2032
- 6.5 Others
- 6.5.1 market estimates and forecast, 2018 - 2032
Chapter 7 Car Subscription Market, By Subscription Period
- 7.1 Key trends, by subscription period
- 7.2 0-6 Months
- 7.2.1 market estimates and forecast, 2018 - 2032
- 7.3 6-12 Months
- 7.3.1 market estimates and forecast, 2018 - 2032
- 7.4 More than 12 Months
- 7.4.1 market estimates and forecast, 2018 - 2032
Chapter 8 Car Subscription Market, By Region
- 8.1 Key trends, by region
- 8.2 North America
- 8.2.1 Market estimates and forecast, 2018- 2032
- 8.2.2 Market estimates & forecast, by service provider, 2018- 2032
- 8.2.3 Market estimates & forecast, by vehicle type, 2018- 2032
- 8.2.4 Market estimates & forecast, by subscription period, 2018- 2032
- 8.2.5 U.S.
- 8.2.5.1 Market estimates and forecast, 2018- 2032
- 8.2.5.2 Market estimates & forecast, by service provider, 2018- 2032
- 8.2.5.3 Market estimates & forecast, by vehicle type, 2018- 2032
- 8.2.5.4 Market estimates & forecast, by subscription period, 2018- 2032
- 8.2.6 Canada
- 8.2.6.1 Market estimates and forecast, 2018- 2032
- 8.2.6.2 Market estimates & forecast, by service provider, 2018- 2032
- 8.2.6.3 Market estimates & forecast, by vehicle type, 2018- 2032
- 8.2.6.4 Market estimates & forecast, by subscription period, 2018- 2032
- 8.3 Europe
- 8.3.1 Market estimates and forecast, 2018- 2032
- 8.3.2 Market estimates & forecast, by service provider, 2018- 2032
- 8.3.3 Market estimates & forecast, by vehicle type, 2018- 2032
- 8.3.4 Market estimates & forecast, by subscription period, 2018- 2032
- 8.3.5 UK
- 8.3.5.1 Market estimates and forecast, 2018- 2032
- 8.3.5.2 Market estimates & forecast, by service provider, 2018- 2032
- 8.3.5.3 Market estimates & forecast, by vehicle type, 2018- 2032
- 8.3.5.4 Market estimates & forecast, by subscription period, 2018- 2032
- 8.3.6 Germany
- 8.3.6.1 Market estimates and forecast, 2018- 2032
- 8.3.6.2 Market estimates & forecast, by service provider, 2018- 2032
- 8.3.6.3 Market estimates & forecast, by vehicle type, 2018- 2032
- 8.3.6.4 Market estimates & forecast, by subscription period, 2018- 2032
- 8.3.7 France
- 8.3.7.1 Market estimates and forecast, 2018- 2032
- 8.3.7.2 Market estimates & forecast, by service provider, 2018- 2032
- 8.3.7.3 Market estimates & forecast, by vehicle type, 2018- 2032
- 8.3.7.4 Market estimates & forecast, by subscription period, 2018- 2032
- 8.3.8 Italy
- 8.3.8.1 Market estimates and forecast, 2018- 2032
- 8.3.8.2 Market estimates & forecast, by service provider, 2018- 2032
- 8.3.8.3 Market estimates & forecast, by vehicle type, 2018- 2032
- 8.3.8.4 Market estimates & forecast, by subscription period, 2018- 2032
- 8.3.9 Spain
- 8.3.9.1 Market estimates and forecast, 2018- 2032
- 8.3.9.2 Market estimates & forecast, by service provider, 2018- 2032
- 8.3.9.3 Market estimates & forecast, by vehicle type, 2018- 2032
- 8.3.9.4 Market estimates & forecast, by subscription period, 2018- 2032
- 8.3.10 Russia
- 8.3.10.1 Market estimates and forecast, 2018- 2032
- 8.3.10.2 Market estimates & forecast, by service provider, 2018- 2032
- 8.3.10.3 Market estimates & forecast, by vehicle type, 2018- 2032
- 8.3.10.4 Market estimates & forecast, by subscription period, 2018- 2032
- 8.4 Asia Pacific
- 8.4.1 Market estimates and forecast, 2018- 2032
- 8.4.2 Market estimates & forecast, by service provider, 2018- 2032
- 8.4.3 Market estimates & forecast, by vehicle type, 2018- 2032
- 8.4.4 Market estimates & forecast, by subscription period, 2018- 2032
- 8.4.5 China
- 8.4.5.1 Market estimates and forecast, 2018- 2032
- 8.4.5.2 Market estimates & forecast, by service provider, 2018- 2032
- 8.4.5.3 Market estimates & forecast, by vehicle type, 2018- 2032
- 8.4.5.4 Market estimates & forecast, by subscription period, 2018- 2032
- 8.4.6 India
- 8.4.6.1 Market estimates and forecast, 2018- 2032
- 8.4.6.2 Market estimates & forecast, by service provider, 2018- 2032
- 8.4.6.3 Market estimates & forecast, by vehicle type, 2018- 2032
- 8.4.6.4 Market estimates & forecast, by subscription period, 2018- 2032
- 8.4.7 Japan
- 8.4.7.1 Market estimates and forecast, 2018- 2032
- 8.4.7.2 Market estimates & forecast, by service provider, 2018- 2032
- 8.4.7.3 Market estimates & forecast, by vehicle type, 2018- 2032
- 8.4.7.4 Market estimates & forecast, by subscription period, 2018- 2032
- 8.4.8 ANZ
- 8.4.8.1 Market estimates and forecast, 2018- 2032
- 8.4.8.2 Market estimates & forecast, by service provider, 2018- 2032
- 8.4.8.3 Market estimates & forecast, by vehicle type, 2018- 2032
- 8.4.8.4 Market estimates & forecast, by subscription period, 2018- 2032
- 8.4.9 South Korea
- 8.4.9.1 Market estimates and forecast, 2018- 2032
- 8.4.9.2 Market estimates & forecast, by service provider, 2018- 2032
- 8.4.9.3 Market estimates & forecast, by vehicle type, 2018- 2032
- 8.4.9.4 Market estimates & forecast, by subscription period, 2018- 2032
- 8.4.10 Southeast Asia
- 8.4.10.1 Market estimates and forecast, 2018- 2032
- 8.4.10.2 Market estimates & forecast, by service provider, 2018- 2032
- 8.4.10.3 Market estimates & forecast, by vehicle type, 2018- 2032
- 8.4.10.4 Market estimates & forecast, by subscription period, 2018- 2032
- 8.5 Latin America
- 8.5.1 Market estimates and forecast, 2018- 2032
- 8.5.2 Market estimates & forecast, by service provider, 2018- 2032
- 8.5.3 Market estimates & forecast, by vehicle type, 2018- 2032
- 8.5.4 Market estimates & forecast, by subscription period, 2018- 2032
- 8.5.5 Brazil
- 8.5.5.1 Market estimates and forecast, 2018- 2032
- 8.5.5.2 Market estimates & forecast, by service provider, 2018- 2032
- 8.5.5.3 Market estimates & forecast, by vehicle type, 2018- 2032
- 8.5.5.4 Market estimates & forecast, by subscription period, 2018- 2032
- 8.5.6 Mexico
- 8.5.6.1 Market estimates and forecast, 2018- 2032
- 8.5.6.2 Market estimates & forecast, by service provider, 2018- 2032
- 8.5.6.3 Market estimates & forecast, by vehicle type, 2018- 2032
- 8.5.6.4 Market estimates & forecast, by subscription period, 2018- 2032
- 8.5.7 Argentina
- 8.5.7.1 Market estimates and forecast, 2018- 2032
- 8.5.7.2 Market estimates & forecast, by service provider, 2018- 2032
- 8.5.7.3 Market estimates & forecast, by vehicle type, 2018- 2032
- 8.5.7.4 Market estimates & forecast, by subscription period, 2018- 2032
- 8.6 MEA
- 8.6.1 Market estimates and forecast, 2018- 2032
- 8.6.2 Market estimates & forecast, by service provider, 2018- 2032
- 8.6.3 Market estimates & forecast, by vehicle type, 2018- 2032
- 8.6.4 Market estimates & forecast, by subscription period, 2018- 2032
- 8.6.5 South Africa
- 8.6.5.1 Market estimates and forecast, 2018- 2032
- 8.6.5.2 Market estimates & forecast, by service provider, 2018- 2032
- 8.6.5.3 Market estimates & forecast, by vehicle type, 2018- 2032
- 8.6.5.4 Market estimates & forecast, by subscription period, 2018- 2032
- 8.6.6 Saudi Arabia
- 8.6.6.1 Market estimates and forecast, 2018- 2032
- 8.6.6.2 Market estimates & forecast, by service provider, 2018- 2032
- 8.6.6.3 Market estimates & forecast, by vehicle type, 2018- 2032
- 8.6.6.4 Market estimates & forecast, by subscription period, 2018- 2032
- 8.6.7 UAE
- 8.6.7.1 Market estimates and forecast, 2018- 2032
- 8.6.7.2 Market estimates & forecast, by service provider, 2018- 2032
- 8.6.7.3 Market estimates & forecast, by vehicle type, 2018- 2032
- 8.6.7.4 Market estimates & forecast, by subscription period, 2018- 2032
- 8.6.8 Israel
- 8.6.8.1 Market estimates and forecast, 2018- 2032
- 8.6.8.2 Market estimates & forecast, by service provider, 2018- 2032
- 8.6.8.3 Market estimates & forecast, by vehicle type, 2018- 2032
- 8.6.8.4 Market estimates & forecast, by subscription period, 2018- 2032
Chapter 9 Company Profiles
- 9.1 AB Volvo
- 9.1.1 Business Overview
- 9.1.2 Financial Data
- 9.1.3 Product Landscape
- 9.1.4 Strategic Outlook
- 9.1.5 SWOT Analysis
- 9.2 BMW AG
- 9.2.1 Business Overview
- 9.2.2 Financial Data
- 9.2.3 Product Landscape
- 9.2.4 Strategic Outlook
- 9.2.5 SWOT Analysis
- 9.3 Daimler AG
- 9.3.1 Business Overview
- 9.3.2 Financial Data
- 9.3.3 Product Landscape
- 9.3.4 Strategic Outlook
- 9.3.5 SWOT Analysis
- 9.4 Drover Limited
- 9.4.1 Business Overview
- 9.4.2 Financial Data
- 9.4.3 Product Landscape
- 9.4.4 Strategic Outlook
- 9.4.5 SWOT Analysis
- 9.5 Evezy
- 9.5.1 Business Overview
- 9.5.2 Financial Data
- 9.5.3 Product Landscape
- 9.5.4 Strategic Outlook
- 9.5.5 SWOT Analysis
- 9.6 Exelorate Enterprises, LLC
- 9.6.1 Business Overview
- 9.6.2 Financial Data
- 9.6.3 Product Landscape
- 9.6.4 Strategic Outlook
- 9.6.5 SWOT Analysis
- 9.7 Fair Financial Corp.
- 9.7.1 Business Overview
- 9.7.2 Financial Data
- 9.7.3 Product Landscape
- 9.7.4 Strategic Outlook
- 9.7.5 SWOT Analysis
- 9.8 General Motors Co.
- 9.8.1 Business Overview
- 9.8.2 Financial Data
- 9.8.3 Product Landscape
- 9.8.4 Strategic Outlook
- 9.8.5 SWOT Analysis
- 9.9 Hyundai Motor Co.
- 9.9.1 Business Overview
- 9.9.2 Financial Data
- 9.9.3 Product Landscape
- 9.9.4 Strategic Outlook
- 9.9.5 SWOT Analysis
- 9.10 Innovate Automotive Pty Ltd
- 9.10.1 Business Overview
- 9.10.2 Financial Data
- 9.10.3 Product Landscape
- 9.10.4 Strategic Outlook
- 9.10.5 SWOT Analysis
- 9.11 LeasePlan Corporation
- 9.11.1 Business Overview
- 9.11.2 Financial Data
- 9.11.3 Product Landscape
- 9.11.4 Strategic Outlook
- 9.11.5 SWOT Analysis
- 9.12 Lyft
- 9.12.1 Business Overview
- 9.12.2 Financial Data
- 9.12.3 Product Landscape
- 9.12.4 Strategic Outlook
- 9.12.5 SWOT Analysis
- 9.13 Primemover Mobility Technologies Private Limited (Revv)
- 9.13.1 Business Overview
- 9.13.2 Financial Data
- 9.13.3 Product Landscape
- 9.13.4 Strategic Outlook
- 9.13.5 SWOT Analysis
- 9.14 Tata Motors
- 9.14.1 Business Overview
- 9.14.2 Financial Data
- 9.14.3 Product Landscape
- 9.14.4 Strategic Outlook
- 9.14.5 SWOT Analysis
- 9.15 Toyota
- 9.15.1 Business Overview
- 9.15.2 Financial Data
- 9.15.3 Product Landscape
- 9.15.4 Strategic Outlook
- 9.15.5 SWOT Analysis
- 9.16 Volkswagen AG
- 9.16.1 Business Overview
- 9.16.2 Financial Data
- 9.16.3 Product Landscape
- 9.16.4 Strategic Outlook
- 9.16.5 SWOT Analysis
- 9.17 Wagonex Limited
- 9.17.1 Business Overview
- 9.17.2 Financial Data
- 9.17.3 Product Landscape
- 9.17.4 Strategic Outlook
- 9.17.5 SWOT Analysis
- 9.18 ZoomCar
- 9.18.1 Business Overview
- 9.18.2 Financial Data
- 9.18.3 Product Landscape
- 9.18.4 Strategic Outlook
- 9.18.5 SWOT Analysis