November 10, 2017
Want the option of trying out a new Porsche without committing to buying one? Well, Porsche has something for you. The company has announced that starting in November, they are launching a monthly subscription service. The service will give Porsche fans unlimited access to eight Porsche models, such as the 718 Boxster or the 718 Cayman S, for $2,000 a month. Fans can even upgrade to the $3,000 a month plan in which they will have a choice of over 22 models to drive, including the Cayenne E-Hybrid. The thought of driving a new Porsche each weekday is certainly worth the upgrade.
Some of the perks of the service include frequent vehicle exchanges, unrestricted mileage, and on demand access. In the past if you wanted to test drive a Porsche, you had to go to a dealership within business hours and would only have access to the vehicle for a certain amount of time. With the subscription service, you can now have access to many Porsche models whenever you want. If you want to try out a new model, you simply have to put in a request and Porsche will deliver the new car to your location and pick up the other one. You can keep the model for as long as you desire before moving onto another model to try out. The biggest benefit to this model is the flexibility it allows users.
This service, called the Porsche Passport, will launch in Atlanta. If the service is well received there, Porsche will then extend the service into other major markets.
Porsche is the third car company to launch a subscription service. Currently, Volkswagen Group has the Audi on Demand subscription service that is fully operational in San Francisco. The Audi on Demand service is intended to be a rental service. You create an account online, book the vehicle you want, and then Audi will have a concierge service deliver the car to you. Users can choose from a large range of models. Audi hopes to bring in new customers by allowing them to rent their cars first in order to get the full Audi experience.
Volvo plans to launch a Care by Volvo service early next year. With the Care by Volvo service, you will drive the XC40 SUV but you will only pay a subscription fee. Volvo will take care of all the overhead costs such as insurance, maintenance, and repairs. Volvo’s subscription model is like leasing, except you just have to pay the monthly fee and not spend a dime on anything else outside of the fee.
Porsche’s approach to the subscription service is meant to highlight the luxury of driving a Porsche and the fun that is associated with driving a different model each time, while Audi and Volvo focus on taking away the monetary hassle involved in every day transportation. It will be interesting to see what car company comes out with a subscription service next and to see how their approach will be different.
Car companies starting subscription services is a smart move. Buying a car is a big commitment to make and is a decision that often takes months. Subscription services can make it easier to ease into the decision. Customers can test drive a number of cars for a certain amount of time and then eventually decide if the vehicle is right for them. Currently, high end companies are going all in on these services. Hopefully this becomes a new industry trend.