"As technology continues to disrupt the auto industry, innovation such as ride sharing apps, electric vehicles, and car subscriptions will completely transform the sector, reports Ipsos. In fact, by 2022 the car subscription market is set to grow by 71%."
"Given their swift adoption of the subscription lifestyle, it's no surprise millennials are the most familiar with car subscription services. With 17% saying they plan to sign up in the next year, it's clear this format provides the freedom they seek without the drawbacks they see to ownership."
"40% of total affluents say the most appealing thing about a car subscription is being able to select cars for specific purposes. The largest gender differences show that women are more likely to value the concierge or delivery service aspect while men are slightly more drawn to the idea of not needing their own insurance."
"Cost is the top concern affluents cite as a drawback to auto subscription services. The effort involved ranks second, with affluent females (42%) more likely to have this concern than affluent males (33%). Communications emphasizing ease of use could be effective in targeting these consumers to allay those concerns."
"Ipsos Affluent Intelligence research has proven affluent consumers to be the earliest adopters of new technologies across all categories."
As mentioned, the Affluent are concerned about the cost of car subscriptions. Vehicle subscription providers may be able to win their business by offering deals. According to AudienceSCAN, their favorite types of emails to receive from businesses include coupons/discount codes and limited-time offers/sales, with 52.3% of Affluents having taken action after receiving email ads last year.
AudienceSCAN data is available for your applications and dashboards through the SalesFuel API. In addition, AdMall contains industry profiles on auto dealerships (all makes) and used car dealers, as well as lead lists at the local level. Media companies, sales reps and agencies can access this data with a subscription to AdMall from SalesFuel.