imove Norway has won the best car subscription service provider by the Norwegian Consumer Council. It is fantastic to see that car subscription is gaining more traction as a favorable way to have a car and we are thrilled to have such happy end customers, some of which were featured in the news.
VG, Norway’s largest newspaper, released an article mapping out seven-car subscription providers in Norway, revealing differences between the services and ranking them according to customer favorability.
“It’s imove who supremely wins the Consumer Council’s survey.” The council assessed and scored roughly 50 criteria including subscription period, mileage included, insurance deductible, amount of drivers, and the opportunity to swap cars.
Toyota’s Kinto Flex was the runner-up, a car subscription service that runs on imove technology, and has many similarities prioritizing flexibility for the customer. “The keyword is flexibility. The car is always available, as opposed to, for example, a car-sharing or short-term rental,” wrote Hanne Hattrem, VG journalist.
Our technology enables both imove Norway and Kinto Flex to offer car subscriptions that customers clearly love. Our platform delivers, for example, connected fleet management, AI automation, and smart integrations that facilitate scalable car subscription services for any fleet owner. These elements ultimately result in a seamless end customer experience.
The council assessment serves as confirmation the industry is evolving and providers have taken a variety of approaches on how to offer car subscription. It seems there is not necessarily a “right” formula for car subscription services but rather many ways to meet different customer segments. Ultimately, we are thrilled to see so many providers offering car subscription and view this as a strong indication that the automotive industry is headed toward a more innovative future.
According to Accenture and McKinsey, 20-25% of car sales will be in the form of subscriptions by 2025. Reports like VG’s are fantastic for educating not-yet users on how buying, leasing, renting, and subscribing differ and position car subscription as the emerging favorite. Consumers appreciate the cost predictability that car subscription offers. The author writes, "Subscriptions contain many benefits that can not easily be priced."
It was also apparent that flexibility is the strongest selling point of car subscription as a product and that our hypothesis of "flexibility beats uncertainty" holds true regarding electric vehicles especially. A customer of our imove Norway service said he values the possibility of changing cars when needed. Swapping to a different car can easily be done on the website, automatically updating the subscription's monthly fee and customer profile. The customer in reference had previously driven an Xpeng G3 and found it charged a little too slowly for his needs and was therefore replaced.
Customers and industry experts are certain that car subscription will be a method of accessing a car in the future and as more providers opportunity on the opportunity to deliver this product, the mobility industry becomes more customer centric and increasingly relevant in people's everyday lives.
To read the full Norwegian article, go to https://www.vg.no/forbruker/bil-baat-og-motor/i/rEKrd0/forbrukerraadet-kaarer-de-beste-og-daarligste-bilabonnementene.