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Could Electric Car Sales Get a Boost from Subscription Services?

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author photo by Lindsay Martell November 2017

The electric car industry has come a long, long way, but owning an EV presents its own challenges. The learning curve can be intense: getting used to the plug-in mechanism, concerns about battery power, etc.

Fortunately, automakers are continuing to roll out new models for owning an electric vehicle — a kind of test-drive ownership, in a sense. One of these methods is a subscription service.

Pay-Per-Month

Customers who may balk at spending thousands on new electric vehicle (or leasing one), might be enticed to sign up for a subscription that lets them try out a car with less of a cash-heavy investment or commitment.

Cadillac and Porsche already have a subscription-based ownership models which provide on-demand service — subscribers can change vehicle model in a snap. Other sub services, such as Care by Volvo, require owners to keep the car for one year.

As first reported by Green Reports, a new study from Navigant Research indicates this may convince more consumers to choose an electric car since they aren't forced to make a decision on one particular electric vehicle.

Cost Considerations

And while this kind of service may appeal to many EV newbie owners, it can be pricey. For example. Porsche's Passport subscription service costs $2,000 per month — a steep cost for the average car buyer.

Only time will tell if a subscription-type service will appeal to the majority of electric car enthusiasts. The monthly fee may make consumers balk, while others may embrace the ala carte aspects of the model.

If it gets more folks jazzed about electric vehicles, it could be the next big thing in car buying.

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This image is a stock photo and is not an exact representation of any vehicle offered for sale. Advertised vehicles of this model may have styling, trim levels, colors and optional equipment that differ from the stock photo.
Could Electric Car Sales Get a Boost from Subscription Services? - Autotrader