Subscription on Overdrive ⏩
We saw this coming - people are officially changing cars like they are changing partners😎#NoJudgement.
Car ownership has entered the era of swipes, and it's here to stay. With the changed mindset, lifestyle choices, frequent job switches, and increased wanderlust, the car leasing market is about to go on overdrive.
According to SPER market research, the Global luxury car leasing market is estimated to reach $74.18 billion by 2032. It’s growing at a CAGR of 13.51%. 🙀
The concept is not new, but will it work in India? Well, the middle class population of India is expected to be the largest by 2025.
And the car leasing service will be the smartest solution to cater to this conspicuous group of people for their mobility needs without compromising their financial comfort zone and aspirational wants 🤤
With car subscription/leasing, a lot of car-owner headaches will now be outsourced to the leasing companies itself🤩
- Vehicle insurance
- Warranty and Repairs
- Maintenance and servicing
Top players in India
If you’ve made up your mind to lease a car, here are a few companies you can seriously start considering🤓
- SMAS Auto Leasing India Pvt Ltd
- Lease Plan
- ALD Automotive
- Avis Lease
- Orix India
If someone asked me - would I lease a car? I would consider following pointers before even heading to the showroom
- Monthly fees should be less than installment of car (which it generally is) 👍🏼
- I want to drive the car during its most trouble-free years 🧘🏻♀️
- I am high on safety, so I want latest safety features in my car 🤕
Overall, it's a pretty lit option to look into. Let me know what you think about it by hitting reply👩🏻💻
Big Picture 🌁
Interesting infographics that help you understand macro-trends in India
If you were to start a business in the automobile industry. This infographics point towards some interesting patterns.
The car leasing itself is an outcome of changing cars faster. Another upcoming market is vehicle insurance.
FYI, females are more likely to die and suffer serious injuries in car crashes. The reason ? there were no female dummies used in the crash test. With more female owners, will this change?