In the exciting world of vehicle subscriptions, a new narrative is beginning to unfold. As we delve into the recent data from the latest Vehicle Subscription Utilisation Index report, one trend emerges prominently - electric Vehicles (EVs) are rapidly gaining traction amongst subscribers, with new brands making impressive strides in this burgeoning space.
KIA, Nissan, and Mazda: The New Contenders in Electric Vehicle Subscriptions
In an industry first, KIA, Nissan, and Mazda have made their mark in the Loopit Vehicle Subscription Utilisation (VSU) Index in the EV category. These brands, previously unranked, have leapfrogged their way past established European models like the Mercedes EQA and Audi E-TRON. Models such as the KIA EV6, KIA Niro, Nissan LEAF, and Mazda MX-30 are leading the pack, indicating a preference amongst subscribers for affordability when exploring the suitability of EVs. We expect this trend to continue particularly following the recent introduction of new affordable EV models such as the MG MG4 EV and the BYD Dolphin.
With an expanding portfolio of EV models available for subscription, providers now have a unique opportunity to encourage customers to fully leverage the benefits of subscriptions. By offering customers the ability to swap between various EVs, providers can empower them to explore the suitability of different models firsthand, based on their individual needs. This flexibility allows customers to experiment with various aspects of EV usage such as range capacities and charging times of different models, thus providing them with practical insights that can inform their future decisions.
While this shift is significant, it's worth noting that the Polestar 2 continues to enjoy its reign as the number one spot in popular subscribed EVs.
Top Subscribed Electric Vehicles (June 2023)
Nissan's Rise in the Rankings
Accompanying the arrival of new brands in the EV category is a shake-up in the overall standings. Nissan has ascended to the 17th spot in the Most Popular Subscribed Vehicles by Make category, a jump that can be largely attributed to the addition of the electric Nissan LEAF to the Loopit Global Subscriber Network.
The Enduring Appeal of the Ford Ranger
Amidst the flurry of EV news, the Ford Ranger continues to hold its own. Retaining its position as the most popular commercial vehicle, the Ranger also earns recognition as the 6th most popular subscribed vehicle by model. This trend can be attributed to the growing need for flexible commitments in the business world, especially amidst the current challenging financial climate. Subscriptions offer businesses the ability to scale their fleet up or down as needed, without the financial burden of owning or leasing.
About the Loopit VSU Index Methodology
The VSU Index measures vehicle utilisation on subscription rather than individual vehicle volume. Due to the inherent flexible nature of car subscription, vehicle utilisation is measured by considering the cumulative number of days in which any given vehicle is utilised within an active subscription during the monthly reporting period. In this way, we equally consider utilisation for individual vehicles being utilised across multiple subscribers, as well as individual vehicles that remain with the same subscriber for longer periods.
