VW Group wants to gradually develop new subscription models for cars

The finance division of the VW Group wants to gradually develop new subscription models for cars into an important pillar alongside classic leasing and loan financing. The increasing trend towards short-term use instead of owning vehicles offers opportunities here, said the head of digital at Volkswagen Financial Services (VWFS), Stefan Imme, before the start of the IAA auto show in Munich. "You can tell that some customers tend to shy away from long-term relationships," says Imme. "Instead, they are interested in more flexibility and want to be able to change vehicles more frequently." This shortens the "holding period". VWFS primarily acts as an additional sales channel for its own cars in the largest European car group. The Braunschweig residents will also be heavily involved in new digital projects, for example in the future for billing functions for autonomous driving - VW CEO Herbert Diess is planning integrated mobility platforms. The financial subsidiary also offers insurance, maintenance or fueling and charging services. According to Imme, the latter are becoming more important as e-mobility is ramping up - and that's where the subscription concepts come into play. Similar to borrowed or leased cars, which one does not have to buy straight away, the manager hopes for a familiarization and familiarization effect: "With the subscription, customers can gain experience in electric driving and charging and thus overcome supposed entry barriers." In the auto business, two developments are currently converging: "A kind of Netflix model of use 'on demand' and the desire to try it out before you commit. Subscription concepts that are between short-term rental and leasing fit in well." By the end of the year, 2000 to 3000 copies of the ID.3 and ID.4 e-models should be available from the VW core brand. There are also models from other group brands, including selected combustion engines, which are sold through VWFS and Heycar - this has been true for some time. Additional subscriptions are planned for subsidiaries such as Skoda or Seat.