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Richard Falconer, Managing Director at Co Wheels Car Club previously said that a pay-as-you-go model allowed drivers to enjoy vehicles “without the commitment of owning it”. Vehicles can be hired for “as low as £5 per hour” which could become a big threat to private car ownership.
Experts have also warned car subscriptions could be a big boost to electric car ownership.
Mr Falconer said: “Is a pay-as-you-go subscription the future of car rental? The answer is yes!
“The beauty of a pay-as-you-go subscription is that you can enjoy all the benefits and conveniences of a car without the commitment of owning it.
“You can book a vehicle wherever and whenever you want, for as long or as little as you like.
“Even half an hour will do! You can hire your car from a handy app 15 minutes before you need to use it, and only pay for it when you actually drive it. Rates can be as low as £5 per hour.”
He added: “A pay-as-you-go subscription is perfect for those people who tend to use public transport or bikes.
“When in need of a vehicle though, whether for a weekly shop or an outdoor trip, this subscription offers you the liberty to book a car at a time and place that best suits you.”
Mr Falconer said drivers would typically come with insurance, tax, roadside maintenance and fuel all included in the price.
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He said this would mean drivers are never faced with expensive “unexpected costs” when on the road.
Car subscription services have grown in recent years with drivers now facing a range of options.
It is now being seen as a way to encourage road users to adopt electric cars due to the heavy upfront costs involved in switching.
All-inclusive EV service Onto has previoulsy raised almost £130million ($175million) to “transform” the car ownership model.
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Rob Jolly, CEO at Onto said: “While two out of three UK drivers want their next car to be electric, the transition can be expensive and daunting.
“At Onto we’ve been changing the rules of the game for car ownership through our no-commitment, all-inclusive subscription service.
“Our focus is on providing an easy, flexible and affordable alternative, and we’re seeing huge demand.”
Manufacturers, such as luxury car brand Genesis, have also fully embraced the opportunity of subscription models to sell cars to motorists.
Dominique Boesch, Managing Director for Genesis Motor Europe said: “We recommend Genesis Flexibility to customers who would like to experience our premium luxury vehicles without the commitment.
“At Genesis, we believe that you don’t need to own a premium luxury vehicle to be able to drive one.
“We want our customers to be able to experience the same first-class Genesis service, on their own terms and to suit their lifestyle.”
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