Could subscription-based EV borrowing be right for you?

[Admin]

Electric vehicles are the new trend in the transport industry as a result of the constantly increasing fuel prices, coupled with environmental concerns, there is a constant push for the adoption of electric vehicles to help minimize carbon footprints. EV vehicle revolution, on the other hand, has originated from basic models that take too long … (read full article...)

 

[Vernon]

We wrote this with a little bit of a European slant since it's more popular there but look for the trend to spread quickly in the US as well. Many, including Elon Musk, have predicted at that car ownership will cease to some extent, if not entirely, in the future. The belief is that we'll subscribe to services that have a car on demand rather than each of us owning our own car and keeping it at our home or workplace.

 

[RivianKnight]

We wrote this with a little bit of a European slant since it's more popular there but look for the trend to spread quickly in the US as well. Many, including Elon Musk, have predicted at that car ownership will cease to some extent, if not entirely, in the future. The belief is that we'll subscribe to services that have a car on demand rather than each of us owning our own car and keeping it at our home or workplace.

I could see that happening. I'm a member of a boat club that works the same way. We paid some money upfront and then a monthly fee but we don't have to worry about insurance, maintainence or anything else. And if they can get cars to drive themselves the cars could come right to you.

 

[Vernon]

I could see that happening. I'm a member of a boat club that works the same way. We paid some money upfront and then a monthly fee but we don't have to worry about insurance, maintainence or anything else. And if they can get cars to drive themselves the cars could come right to you.

Hey RK, welcome to the site! You're exactly right, it does sound like one of the boat clubs (we have Freedom Boat Club here). The idea of not having to pay for maintenance and insurance is really going to appeal to people.

 

[MattyinBuffalo]

Hey RK, welcome to the site! You're exactly right, it does sound like one of the boat clubs (we have Freedom Boat Club here). The idea of not having to pay for maintenance and insurance is really going to appeal to people.

This could work in large metro areas but I would not expect to see it in more rural areas for a decade, if not more.

 

[Vernon]

This could work in large metro areas but I would not expect to see it in more rural areas for a decade, if not more.

It will take time but it could work if the right price point is available. In those rural areas, it wouldn't take more than 3-4 "partners" for each vehicle.