The group behind Volvo, Polestar, Lynk & Co, Smart, Lotus and Proton is considering a new subscription service where customer pay a monthly fee for use of any of its cars.
With the average car spending 96 per cent of the time parked, Lotus executive director of corporate strategy and product management, Uday Senapati said at the Financial Times’ Future of the Car event: “For Lotus, that number is probably higher.
“It’s really a Sunday summer car for a niche of enthusiasts who adore it for that.
“We can change that in the future, both by making our cars more useful and moving into different segments, but there are opportunities in sharing too.”
Related: Volvo launches UK subscription car service
Senapati explained that any such proposal is still in the discussion phase.
However, he added, “When you’re part of a big group, it’s natural you will look at what could be done together.
“It’s an obvious thing to look at.”
He also believes there will still be a future for traditional purchasing methods.
Related: Dirty car interiors found to be more germ-ridden than a toilet seat
“Car ownership is here to stay, I believe,” he said. “Cars aren’t just a commodity for many people; they mean more, and that will always be the case.”
Several car brands already offer subscriptions for their cars.
A Global Market Insights report recently projecting that 20 per cent of car journeys will be made using a subscription service by 2026.
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