Commercial vehicles fuel subscription growth as Polestar extends its lead over Tesla

Loopit has released the third monthly report of the Vehicle Subscription Utilisation Index (VSU Index) for November 2022 that provides an in-depth analysis of vehicle utilisation across our network of car subscription providers.

George Skentzos

Head of Customer Experience

Published on 

December 14, 2022


Last updated on 

January 25, 2023

Key Takeaways

  • Commercial vehicles occupy four of the five top positions for most-subscribed vehicles over USD $30,000
  • Polestar extends its lead over Tesla in the EV category

Vehicle utilisation data released today by Loopit for November has revealed that demand for commercial vehicles through car subscription continues to accelerate, with Mazda BT-50, Ford Ranger and Toyota Hilux occupying the top three positions for most-subscribed vehicles above USD $30,000.

Loopit says this demonstrates the opportunity and growing demand for more flexible access to business fleets, especially as interest rates and operating costs continue to rise. 

“The car subscription model is a win-win for sole traders and businesses of all sizes who gain access to a fleet of vehicles to suit their needs, without the financial commitment of a long-term lease.” says Michael Higgins, co-founder and managing director at Loopit.

Elsewhere, the Cupra Formentor has moved into sixth spot for vehicles over USD $30,000 which also earns the freshly-launched brand 16th position in the overall manufacturer rankings ahead of brands such as Honda and Polestar. 

Meanwhile, Polestar continues to hang on to its lead in the EV category despite fresh Tesla supply, likely thanks to the bulk orders of the Polestar 2 finding their way into car subscription fleets. In fact, Polestar has increased its lead over the Tesla Model Y despite earlier predictions to the contrary.

About the Loopit VSU Index Methodology

The VSU Index measures vehicle utilisation on subscription rather than individual vehicle volume. Due to the inherent flexible nature of car subscription, vehicle utilisation is measured by considering the cumulative number of days in which any given vehicle is utilised within an active subscription during the monthly reporting period. In this way, we equally consider utilisation for individual vehicles being utilised across multiple subscribers, as well as individual vehicles that remain with the same subscriber for longer periods.

About the author
George is the Head of Marketing and Customer Experience at Loopit. Having originally started his career as a motoring journalist and founding team member for one of Australia's top automotive startups, George has a strong passion for automotive, business and growth marketing.
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