WÜRZBURG, Germany, Dec. 20, 2021 /PRNewswire/ — The subscription model is gaining on other mobility concepts at a rapid pace. According to a forecast by the CAR Institute, demand will even increase further. Thus, by 2030, around 40% of car sales will be in the form of subscriptions. The FAAREN Group, provider of car subscription software and operator of the first car subscription marketplace in Germany, published their results in study. The analysis is based on a sample of 1,000 bookings.
Car subscriptions are highly popular with both commercial and private customers, with more and more private individuals opting for them and showing particular interest in small cars or SUVs. Users appreciate the convenience and fast availability of the subscription and choose a vehicle with an average gross list price of 36,756 euros and a monthly subscription rate of around 530 euros. The premium segment, which includes exclusive luxury cars such as Porsche or Mercedes Benz starting at 1,000 euros per month, is also in demand. The average subscription factor has risen from 1.48% (Q1 2021) to 1.64% (Q4 2021) due to the chip crisis. Predominantly men (75.8%) subscribe to a car. They select a vehicle with high performance more often than women: On average, men drive cars with 162 hp and women with 146 hp.
Vehicles from the Volkswagen Group were booked on the car subscription in 2021 with striking frequency; almost 40 % of customers opted for the Audi or Volkswagen car brands. Hatchbacks are particularly popular, above all the Volkswagen Golf, which is subscribed to in more than 9 % of cases. SUVs are also in high demand, positioning in second place. Although most vehicles are gasoline-powered, there is a clear increase in the direction of e-mobility.
About FAAREN
FAAREN Group GmbH is an international software provider for car subscription models, which are primarily aimed at the automotive industry. FAAREN offers its partners various white label solutions and access to a high-traffic marketplace. Customers include in particular car dealerships of all sizes, rental companies and OEMs. In addition to subscription software, FAAREN provides customer service for its partners, including credit and identity checks, payment management, provision of marketing materials and other services.
More information about FAAREN Group: > click here <
German Car Subscription Report 2021: > click here <
Contact Details:
Konstantin Stenzel
CMO
+49 (0) 9302-6570680
[email protected]
FAAREN Group GmbH
Ostring 2-4, 97228 Rottendorf
www.faaren-group.com
SOURCE FAAREN Group GmbH
