Excerpts from an article by Zac Estrada on The Verge
Not to be left out by rivals, BMW and Mercedes-Benz appear to be joining the world of automotive subscription models that cover all of the fees required with car ownership or leasing under one payment.
Both BMW and Mercedes are expected to announce pilot programs for a subscription service that covers not only car payments, but maintenance and insurance, Automotive News reported on Tuesday. They would join the likes of Audi, Cadillac, and Porsche in offering customers a simplified payment structure and the flexibility to swap to a newer car sooner than a traditional lease or finance plan, or a higher-quality vehicle than a daily rental from the airport. BMW Group and Daimler, Mercedes’ parent company, already run car-sharing firms.
“We are in the phase of looking at it and evaluating together with BMW Financial Services,” BMW of North America CEO Bernhard Kuhnt told the publication this week at the Detroit Auto Show. “And if we are going to do it, we are going to pilot it first to learn more about it.”
Read the full article on The Verge