Volkswagen also jumps on the automotive finance transformation bandwagon. The German company, strong in the firepower of its financial Volkswagen Financial Services (40 billion euros in revenues and 3 billion in operating profit in 2020, Deloitte data for Il Sole 24 Ore), waited before taking a step towards the business model of the future. But today it has launched the Business Model 2.0, which provides leasing and online sales by the end of the year.
We start with AutoAbo, a subscription service for two thousand ID.3 and ID.4, top models of the electric range of the Wolfsburg group. The operation will take off in the coming months. The first 800 kilometers will be free every month, with the only cost for recharging the vehicle. You can start from three or six-month subscriptions and the base price (for the ID.3) will be 499 euros per month. Registration, technical inspection, maintenance and assistance, insurance and road tax will be included. In the future, the various steps will be assisted by the dealers, who are part of the project.
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Let’s say, one thing is not for everyone. But for VW, which thus enters into competition with other market players, from direct opponents such as Leasys or Free2Move (Stellantis group) to charterers such as Ald, Arval and Leaseplan to startups such as the Spanish Bipi (acquired at the end of July by Renault) or the British DriveElectric, “the goal is, as part of our” Accelerate “strategy, the transformation from a car manufacturer to a provider of mobility services: by 2030, around 20% of revenue could come from subscriptions and other offers from mobility, ”commented Klaus Zellmer, managing director in charge of sales and marketing.
Volkswagen, continued Zellmer, “thus marks a further milestone on the Way to Zero and expands its offer of sustainable mobility for all. An increasing number of people do not wish to own a vehicle permanently, but would like to use it exclusively for a defined period. The subscription model was devised in collaboration with Volkswagen Financial Services, which is the group’s development center for car subscription models ».
The dealer network will be incorporated into the subscription model from the start, for example, when it comes to maintenance and repair. The integration of the network into the model will be stepped up gradually so that dealerships remain the face of the Volkswagen brand for its customers. At a later stage, the plan provides that customers can sign up for a subscription at their reseller.