Whilst the cost of living crisis continues to cause uncertainty for business and retail customers alike, the unique flexibility of vehicle subscription provides reassurance to customers.
THE car subscription provider Mycardirect says that doubts about the economy and subscribers looking for a new provider now that Cazoo has exited the market, will help it grow.
In addition, Mycardirect says that SME fleets wanting to decarbonise are also attracted to the flexibility the product offers in a ‘try before you buy’ manner. CEO Duncan Chumley adds that 65% of initial enquiries are for either electric or hybrid models.
Duncan points to the cost of living crisis causing uncertainty for business and retail customers alike, and says the unique flexibility of vehicle subscription provides reassurance to customers. “The flexibility offered by Mycardirect allows a customer to cancel or change a vehicle mid contract with no long term contract lock-in,” he says.
“Short term subscription does look relatively expensive, but long term subscription is good value against traditional forms of leasing.”
He also points to the wide range of vehicles offered by Mycardirect which ranges from a Citroen C3 Aircross to an Ineos Grenadier or, for one customer, a Ferrari.
Following the demise of the Cazoo car subscription programme, Duncan says that Mycardirect can offer a new place for customers wishing to continue with the flexibility that subscriptions provide.
As more businesses and retail customers discover vehicle subscription and the flexibility and other benefits it offers, I am positive we will continue to see significant growth. Our success story is rooted in our strategy of growing the business organically. Our pricing model is sustainable and our prices are guaranteed for the length of the contract. The recent decision of Cazoo to exit the subscription market and to concentrate on their core business is undoubtedly having a positive impact on our new customer order take. At Mycardirect we strongly believe in full customer choice so we continue to offer a wide range of petrol, diesel, EV and hybrid models.
Mycardirect subscription insight
- The average subscription period is 13.1 months.
- Fleet size to grow to 2000 vehicles in 2023.
- Subscribers want a car delivered on a particular day, and don’t want hassle.
- Mycardirect has a price range of £470 up to £10,000 per month (that’s for a Ferrari!).
- EVs and hybrids now make up 40% of the Mycardirect fleet
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