In this report, Loopit explores the emerging demand for short-term mobility with maximum flexibility. As the world's leading platform for car subscription provider, Loopit can offer unique insights into how the automotive industry is making the transformation toward flexible ownership options and how consumers are driving this change.
Loopit has combined survey data from 1,500 UK households with a unique analysis of fleet utilisation trends from across our global network of car subscription providers to offer a robust insight into the future of subscription-based mobility solutions.
The transition to new mobility options is being accelerated.
Automakers, car dealerships, leasing and rental companies have the home ground advantage, but new tech entrants and startups have the disruptive mindset.
The idea of access over ownership is becoming the norm across a number of industries including food, entertainment and music through companies such as Spotify, Netflix and HelloFresh.
Perhaps the most telling trend derived from the VSU Index is that the types of vehicles being utilised on car subscription largely reflect the most popular models on sale today.
Car subscription has been seen by some as a threat to car dealerships, with several industry pundits predicting that dealerships are on the way out. It’s true that car sales have been in decline over the last couple of years, however this is unrelated to the proliferation of car subscription.
Tomorrow and beyond. Loopit predictions for the future of car subscription.
The emergence of the COVID-19 pandemic in 2020 dramatically shifted the world towards flexibility, with Zenith’s UK’s latest consumer trends report showing the demand for higher levels of flexibility from brands than ever before - this means consumers will now expect free cancellations, easier returns processes, short-term contracts, the ability to pause subscriptions and more.
Research shows a strong link between EVs and car subscription, with the majority (77%) of future EV adopters preferring to subscribe to one rather than buy one.
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