Tesla Showcases Significant Subscription Growth, As New Automaker Brands and Models Enter The Loopit Subscriber Network

Tesla's growth and the entrance of Chery headline the Loopit Vehicle Subscription Index for the month of May. Read more for an in-depth analysis of vehicle utilisation across our network of car subscription providers.

George Skentzos

Head of Customer Experience
 @ Loopit.co

Published on 

June 7, 2023


Last updated on 

June 7, 2023

Key Takeaways

In the latest Vehicle Subscription Utilisation (VSU) Index, Tesla has taken a considerable leap, climbing up 9 spots in the 'Top 20 Subscribed Vehicles by Make' category. Thanks to recent global partnerships with new electric subscription providers such as Motor EV in the United States,  Loopit has seen the uptake in Tesla subscriptions including the Tesla Model X making its recent entrance into our network. This growth follows last month’s surge in electric vehicle subscriptions, where new models such as the Ford Mustang Mach-E and Chevrolet Bolt EV have made the lists.

In other news, the Isuzu D-MAX continues to hold its ground, witnessing growth for the 7th consecutive month. This consistent trend reinforces the demand for flexible mobility solutions particularly from business segments who are priortising the benefits of subscribing to commercial vehicles in the current financial environment. 

The vehicle subscription landscape is also proving to be a fertile ground for new market entrants. This past month, we saw new OEM brands such as Chery receiving subscription demand with the new Omoda 5 being subscribed - following its recent debut in the Australian market. Similarly, Cupra is still proving to be a popular option for subscribers on the Loopit network with the Formentor sitting at 6th on the Top Subscribed Vehicles over $USD30,000 category.

Additionally, new models like the 2023 Toyota Corolla and Yaris Cross are also in high demand - underscoring how subscriptions are increasingly becoming a preferred avenue for motorists to trial the newest models, offering a flexible and commitment-free alternative to traditional ownership or leasing.

Finally, turning our attention to the 'Top Subscribed by Model' category, SUVs have once again demonstrated their ongoing popularity, accounting for 60% of the Top 20 Subscribed Vehicles by Model category. 

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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