With the trend towards car usage rather than outright car ownership accelerating, manufacturers and others in the auto finance supply chain are looking to create platforms which allow users to pick and choose from a range of transport offerings to match their needs at different times.
A broad suite of mobility products and services are currently being developed for personal vehicle owners, fleet owners and cities globally. White Clarke Group’s innovation lab experts are also predicting that the rise of autonomous vehicles will likely see a further decline in traditional PCP finance and drive a greater shift towards subscription services and car sharing schemes.
Which is why we’re exploring how we can disrupt the market further by integrating car sharing and even multimodal transport, where customers can also use their subscriptions to access bikes, scooters, busses, trains, maybe even planes with existing finance packages. So that customers can drive when they want to and hand the keys back when they don’t.
With all the exciting new products, services and new business models constantly emerging in the mobility space including: ride-sharing, e-hailing, bike-sharing and car-sharing, pay-per-ride, monthly subscriptions, and having journeys planned and optimized for users, a combination of options from different transport providers in a single mobile service is not far from becoming the expected standard.
Sharing economy business models are also beginning to gain traction in the B2B equipment space with recent new startups looking to create disruption in various sectors from healthcare to construction. Traditional lenders now need to be asking themselves – How long before we see a fundamental shift from product sales to service sales?