The electric lineup is part of Toyota's strategy for achieving carbon neutrality and offering vehicles that help reduce CO2 emissions. Toyota emphasized that the fleet of EVs will cater to diverse lifestyle choices. Toyota's President, Akio Toyota, exclaimed, "An EV for everyone" is their goal.
We at imove suggest giving customers something else they desire; Flexibility.
Buying a vehicle is a huge investment and we understand the uncertainty users have when that vehicle is electric. The technology in the vehicle is entirely different, the usage, including charging, is unfamiliar, as are the manufacturing brands; new EV brands have not earned our trust yet resulting in market skepticism. The flexibility of car subscription removes risk and encourages users to enter the EV game without fear or uncertainty. Car subscription offers a fixed monthly fee, the possibility to quit the subscription if EVs are not for you, the choice of swapping to a different vehicle, and in some cases, access to fossil cars for those occasions where the electric vehicle does not meet your demands. Our research shows that the share of electric vehicles in a car subscription fleet by far outweighs the share of electric vehicles in traditional sales. That reinforces our hypothesis - “Flexibility beats uncertainty.”
In 2019, Toyota Europe launched one of their first global car subscription services in Norway called KINTO Flex, which is powered by imove's white-label tech solution. KINTO Flex offers customers flexible access to a range of Toyota and Lexus hybrids, electric and hydrogen vehicles with no deposit, month-by-month commitment, insurance included, tire change, and the opportunity to switch cars when needed. There are no strings attached with car subscription, making EV adoption that much more attractive.
As Toyota embarks on a more electric and sustainable future, we encourage the automotive industry to modernize its business models to offer the flexibility that customers demand through car subscription.
To learn more about Toyota's announcement, read here.
Kinto Flex in Norway can be visited here.