Evolving beyond car ownership

Today’s drivers have a vast array of options that go well beyond traditional vehicle ownership. Consumers are now considering electric vehicle (EV) ownership, software-defined vehicles, digital purchasing experiences, flexible car ownership and car-subscription models—just to name a few.

The convergence of innovation and consumer demand is driving unprecedented change in the automotive industry. While some consumers want to reduce their carbon footprint, or avoid urban traffic, the most important driver of change is the concern around personal financial capacity in a period of prolonged global economic uncertainty. 

To meet changing consumer needs, emerging mobility providers are disrupting the industry with innovative ownership models that offer quick, hassle-free, app-enabled transportation. Our latest report takes a look at the opportunities offered by flexible car ownership options.

Next-gen vehicle subscriptions focus on flexible, affordable mobility

Car subscription models, unlike traditional vehicle lease and loan programs, offer flexibility as well as the convenience of bundled services. Some offer customers the option to change vehicles throughout the subscription period in order to adapt to shifting needs. Others focus on customer value while maintaining more flexibility than traditional ownership models. While the markets for vehicle subscriptions and car sharing are different, consumers are benefiting from increased access to transportation options. 

Future automotive mobility value chain

Source: Deloitte Future of Automotive Mobility to 2035.

What’s next for vehicle subscription services?

The convergence of cost-conscious consumers, EV adoption,  and a proliferation of connected technologies is a catalyst for transformation—one that may unlock significant opportunities for well-positioned automotive sector leaders. While early attempts at car subscription models may have proven largely unsuccessful, a next-gen approach that recognizes the need for flexible, affordable alternatives to personal car ownership may find opportunities for growth amidst prolonged economic uncertainty and the global push for decarbonization.

For more information on Deloitte’s vehicle subscription offerings, click here.

ⁱ Deloitte, 2023 Global Automotive Consumer Study, January 2023.