Global Vehicle Subscription Market Report, Market Size, Share, Trends, Analysis and Forecast to 2028

Stratistics MRC's Global Vehicle Subscription Market value is expected to reach $22,432.26 million growing at a CAGR of 33.8% during 2022-2028.

A vehicle subscription service is one in which a consumer pays a monthly charge to utilise one or more automobiles. Some vehicle subscriptions include insurance and maintenance as part of the monthly charge, while others allow the subscriber to transfer between vehicles during the subscription time. According to industry observers, a vehicle's subscription is an alternative to acquiring or leasing a vehicle. The difference between a vehicle subscription and owning a vehicle is that the subscription provider keeps vehicle ownership. In contrast, vehicle rental necessitates the effort of locating vehicles for certain dates or trips.
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Asia Pacific is projected to have the highest CAGR over the forecast period. Rising awareness of subscription-based models, as well as government emphasis on automotive electrification to combat climate change, are some of the drivers driving the region's market growth. The expensive cost of electric automobiles is driving the public to adopt subscription-based electric mobility services. Furthermore, the presence of a robust automotive sector, along with a diminishing interest in car ownership among the younger generation, is expected to enhance market growth throughout the projection period.
Some of the key players profiled in the Vehicle Subscription Market include CarNext, Hyundai Motor India, Wagonex Limited, Volkswagen, DriveMyCar Rentals Pty Ltd, General Motors, Fair Financial Corp., FlexDrive, ZoomCar, AB Volvo, ORIX, Carvolution, Arval BNP Paribas Group, Lyft Inc. , Cluno GmbH and Clutch Technologies, LLC.
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Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
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