Tesla Model 3 Takes Top EV Spot While Porsche Enters Luxury Subscriptions

The latest Loopit VSU Index highlights Tesla Model 3's rise as the most popular subscribed EV, while affordable options like Nissan Leaf gain traction. Porsche's entry into luxury subscriptions illustrates the appeal of luxury vehicles without ownership constraints.

George Skentzos

Head of Customer Experience
 @ Loopit.co

Published on 

August 4, 2023


Last updated on 

August 4, 2023

Key Takeaways

This month's Loopit VSU Index findings showcase the industry's dynamic nature, highlighting the rise of affordable EVs and the continued growth of established and new players in various segments. From Tesla's ascendancy to Renault's consistency and Porsche's entry into luxury subscriptions, the market continues to evolve, offering exciting opportunities and choices for subscribers.

The Rise of EV Subscriptions

In a landmark shift, the Tesla Model 3 has taken the top spot as the most popular subscribed EV, ending the Polestar 2's 12-month reign at the top. This achievement underscores Tesla's innovative approach and reflects a growing trend towards more accessible electric options.

Alongside Tesla, the Nissan Leaf has also leapfrogged the Polestar 2, further emphasizing the market's growing interest in affordable EV options. This indicates a broader movement where cost-effective alternatives are no longer playing second fiddle to luxury models but are, in fact, taking center stage.

Tesla's Continued Ascent

Beyond the Model 3's individual success, Tesla as a brand continues to climb the ranks, moving up four spots to 14th on the Top 20 Subscribed Vehicles by Make. Simultaneously, the Tesla Model 3 has entered the top 20 Top Subscribed Vehicles by Model list, sitting at the 16th position. This dual success highlights Tesla's growing influence in the subscription market and its ability to appeal to a wide range of subscribers.

Renault Koleos: Six Months of Growth

The Renault Koleos continues to impress, climbing into the top 5 in the Top Subscribed Vehicles by Model. Marking its 6th consecutive month of growth, the Koleos's ascent reflects its blend of style, performance, and value, resonating well with subscribers looking for a dependable and attractive option.

Porsche Makes a Luxury Statement

In the Top Subscribed Luxury Vehicles category, Porsche has made its entrance with the 911 and Cayenne. This entry signifies Porsche's intent to make a mark in the subscription space, appealing to those who seek premium performance and luxury without the traditional commitment of ownership or leasing.

Porsche's presence in the lineup adds a new dimension to luxury car subscriptions, combining the brand's renowned performance and aesthetics with the flexibility and convenience inherent in the subscription model.

For many, luxury subscriptions are more than a status symbol; they represent a smart and practical way to experience various luxury vehicles, catering to different needs and preferences.

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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