Vehicle Subscription Market to Hit US$ 23.40 Billion by 2031 at 19.2% CAGR, Driven by Flexible Mobility Trends; North America Leads with 38% Share

The Global Vehicle Subscription Market reached US$ 5.80 billion in 2023 and is expected to reach US$ 23.40 billion by 2031, growing at a CAGR of around 19.2% during the forecast period 2024-2031. The market is expanding rapidly as consumers increasingly seek flexible, commitment-free mobility solutions that offer an alternative to traditional car ownership, leasing, and rentals. Rising urbanization, evolving mobility preferences among younger demographics, and the growing convenience of digital subscription platforms are key drivers supporting market growth.

Vehicle subscription services provide users with access to a vehicle for a fixed monthly fee that includes maintenance, insurance, roadside assistance, and other services-making them highly attractive for convenience-focused customers. Passenger cars hold the largest share, driven by demand for premium and mid-range vehicles in subscription models. North America leads the market, supported by strong adoption from tech-savvy consumers and expansion by major automakers, while Europe and Asia-Pacific are emerging as high-growth regions due to supportive mobility trends and increasing investments in shared mobility infrastructure.

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Vehicle Subscription Market refers to the industry that offers flexible, pay-per-month vehicle access plans that include maintenance, insurance, and other services, providing an alternative to traditional car ownership or leasing.

Key Developments

United States
✅ July 2025: Major U.S. automakers expanded subscription offers for electric vehicles (EVs), providing flexible monthly plans including maintenance, insurance, and battery swaps - aiming to attract cost-conscious urban customers.

✅ May 2025: A large U.S. mobility provider launched a pay-as-you-go car-subscription model with dynamically priced usage fees and broadband-connected telematics to enable flexible ownership without long-term commitment.

✅ March 2025: Several U.S. fleet management firms introduced corporate subscription services for small businesses, offering light-duty vans and trucks with subscription-based leasing and maintenance bundled.

Japan
✅ August 2025: Japanese automakers rolled out new short-term vehicle subscription plans targeting younger consumers and urban residents, including options for compact EVs and kei-cars.

✅ June 2025: A leading Japanese mobility service provider launched an all-inclusive subscription package for EVs that includes public charging access, maintenance, and insurance, appealing to environmentally-conscious buyers.

✅ April 2025: Japan's leasing companies expanded subscription services to include hybrid and plug-in hybrid vehicles, combining subsidies and favorable financing to boost adoption.

Mergers & Acquisitions

United States
✅ June 2025: A major U.S. car-rental firm acquired a fast-growing vehicle-subscription startup to consolidate its subscription fleet and expand service coverage across multiple states.
✅ February 2025: A mobility-as-a-service (MaaS) platform partnered with an electric vehicle manufacturer to co-develop a long-term subscription program offering discounted EVs paired with renewable-energy charging plans.

Japan
✅ May 2025: A Japanese automaker formed a joint venture with a domestic insurance company to launch bundled subscription services - combining vehicle access, maintenance, and insurance into a single monthly price.
✅ January 2025: A Japanese leasing company acquired a small urban mobility startup to expand its subscription fleet and integrate flexible, short-term leasing options for city dwellers.

Key Players
Sixt | Avis Budget Group | Lyft, Inc. | Arval BNP Paribas Group | The Hertz Corporation | ORIX Auto Corporation | Volvo Car Corporation | ALD Automotive | Carvolution | Mercedes-Benz Mobility

Key Highlights
• Avis Budget Group - Holds 15.2% share of the global vehicle rental, leasing, and subscription services market, supported by its strong multinational fleet operations and expanding digital mobility platforms.

• The Hertz Corporation - Accounts for 14.1% market share, driven by its extensive rental network, corporate leasing solutions, and electrified fleet expansion.

• Sixt - Maintains 12.8% share, propelled by premium car rental services, strong European footprint, and rapid growth in subscription-based mobility services.

• ALD Automotive - Holds 11.3% share, backed by its large corporate leasing business, long-term rentals, and mobility management solutions across global markets.

• Arval BNP Paribas Group - Controls 10.4% share, driven by strong demand for full-service leasing, fleet electrification programs, and global enterprise mobility solutions.

• ORIX Auto Corporation - Represents 9.0% share, supported by Asia's largest leasing network, vehicle financing, and corporate fleet management services.

• Mercedes-Benz Mobility - Holds 8.1% share, strengthened by premium subscription services, luxury vehicle rentals, and mobility-as-a-service innovations.

• Volvo Car Corporation - Contributes 6.7% market share, driven by its fast-expanding car subscription model (Care by Volvo) and EV-focused mobility offerings.

• Lyft, Inc. - Holds 6.0% share, supported by its ride-sharing platform and growing vehicle subscription & short-term rental partnerships.

• Carvolution - Accounts for 3.4% share, recognized for its fast-growing digital car subscription service model within the European mobility market.

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Market Drivers
• Growing consumer preference for flexible mobility solutions is boosting adoption of vehicle subscription services that eliminate long-term ownership commitments.

• Rising urbanization and shifting attitudes toward vehicle ownership are accelerating demand for pay-as-you-go and all-inclusive mobility models.

• Increasing availability of digital platforms offering bundled services including insurance, maintenance, roadside assistance, and upgrades is supporting market expansion.

• Automakers and mobility providers are expanding subscription fleets to reduce inventory pressure and diversify revenue streams.

• Growth of electric vehicles is increasing subscription adoption as consumers prefer trying EVs without full purchase responsibility.

Industry Developments
• Automakers introduced expanded subscription plans with tiered pricing for EVs, luxury vehicles, and multi-vehicle access.

• Mobility startups partnered with dealerships to widen regional subscription availability.

• Platforms integrated advanced telematics systems to monitor vehicle usage, optimize fleet performance, and reduce operational costs.

• Corporate fleet subscription models expanded to support flexible mobility needs for employees and short-term commercial usage.

• Digital mobility companies launched app-based instant upgrade features allowing customers to switch to higher segments with minimal fee adjustments.

Regional Insights
• North America holds a 38% share, driven by strong penetration of digital mobility services, high consumer willingness to adopt subscription models, and wide availability of premium and EV fleets.

• Europe holds a 34% share, supported by strict emission norms encouraging EV subscriptions, strong urban mobility culture, and rising partnerships between automakers and digital platforms.

• Asia Pacific holds a 22% share, fueled by expanding urban mobility ecosystems, rising tech-enabled consumer base, and increasing adoption of shared and flexible vehicle access models.

• Latin America holds a 4% share, driven by the emergence of subscription-based car rental services, growing digitalization in mobility, and preference for short-term vehicle use among young consumers.

• Middle East and Africa hold a 2% share, supported by growing demand for flexible premium vehicle access, rising expatriate population, and expanding digital mobility platforms in major cities.

Key Segments:

➥ By Type
Single-brand subscriptions dominate as consumers prefer consistent service quality, standardized maintenance, and trusted brand experience from manufacturers. Multi-brand subscriptions are growing steadily, supported by users seeking flexibility, diverse vehicle options, and cost-effective mobility plans.

By Service Provider
OEM/Captive providers lead the market by offering reliable vehicles, integrated service packages, and brand-backed assurance. Third-party providers are expanding quickly with competitive pricing, wider model availability, and innovative subscription models targeting urban and shared mobility users.

➥ By Subscription Period
1 to 6-month subscriptions attract short-term users looking for flexible, commitment-free mobility. 6 to 12-month subscriptions represent the largest segment, balancing affordability with stability for daily commuters and small businesses. More than 12-month subscriptions serve long-term users seeking cost savings, upgraded vehicles, and predictable ownership alternatives.

➥ By Vehicle Type
IC engine vehicles currently lead due to a wide variety of models and established servicing infrastructure. Electric vehicles (EVs) are the fastest-growing category as consumers shift toward sustainable, low-maintenance mobility solutions supported by government incentives. Other vehicle types continue to hold a niche presence, catering to specialized and regional mobility needs.

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