Car subscriptions “could propel electric car adoption”

AutoExec Summary
The success of electric vehicles in Australia should not only be measured by sales volume but should also consider emerging trends like car subscriptions. Loopit, an Australian start-up specializing in car subscription management, believes subscriptions can accelerate EV uptake, with 78% of future EV adopters preferring subscriptions over outright purchases. Loopit also emphasizes that the success of the Federal Government’s New Vehicle Efficiency Standard should not be solely based on electric car sales. Car subscriptions have been gaining popularity, with brands like Toyota, Stellantis, Porsche, Volvo, and Lexus offering their own versions. Despite the benefits of car subscriptions, there are challenges like availability and cost. In France, high demand for EV subsidies led to the suspension of the program. President Macron’s Government plans to relaunch it in 2025.

Brands mentioned: Subaru, Polestar, Toyota, Stellantis, Porsche, Volvo, Lexus, Hertz, Carbar, Carly.