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VEHICLE SUBSCRIPTION MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Vehicle Subscription Market, By Vehicle Type (IC Engine, Electric Vehicles), By Subscription Type (Single Brand Subscription, Multi Brand Subscription), By Subscription Period (0-6 months, 6-12 months, More than 12 months), By Service Providers (OEM, Third Party), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Key Developments

  • In October 2021, General Motors, an American multinational automotive manufacturing company, announced that it expects its in-car subscription services to generate nearly $25 billion revenue by the end of 2030
  • In September 2021, General Motors announced Ultifi, its end-to-end software platform designed to unlock new vehicle experiences and connect customers’ digital lives
  • In September 2021, Volkswagen, a Germany-based premium car manufacturer, launched a subscription-based car ownership model in collaboration with omni channel mobility solutions provider, Orix
  • In February 2021, Hyundai Motors, a South Korean multinational automotive manufacturer, launched global mobility brand MOCEAN Subscription in Europe. This combines the benefits of owning a Hyundai car with the flexibility of a subscription service.

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