Europe Vehicle Subscription Market is expected to grow with the CAGR of 29.2% in the forecast period of 2022 to 2029. The years considered for study are as mentioned below.

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Europe vehicle subscription market is a highly fragmented market, which includes a majority number of key players. The market has witnessed increased strategic developments owing to favourable market scenario.

The major players dealing in Europe vehicle subscription market are introducing strong range of products provider along with launching new products and adopting strategic initiative such as acquisition, agreement, business expansion, award and recognition into the market. This has helped companies to maximize the sales with enhanced product portfolio.

For instance:

• In September 2021, Volkswagen AG launched car subscription services for Auto Abo ID.31 and ID.42 cars. The key feature of this service launch bought more than 2,000 ID.3 & 4 cars under this car subscription service. This initiative will help the company to evolve from a car manufacturer to a mobility services provider by 2030.

Volkswagen AG is the dominating player in Europe vehicle subscription market. The other key players in the market include Mercedes-Benz Group AG, Hertz Global Holdings, Inc., TOYOTA MOTOR CORPORATION, AB Volvo, Hyundai Motor Company, BMW AG, JAGUAR LAND ROVER LIMITED, Renault Group, Ford Motor Company, General Motors, Zipcar, Inc., among others.

Volkswagen AG

Volkswagen AG is headquartered in Berlin, Germany and was founded in the year 1937. The company engaged in manufacturing of passenger cars, light commercial vehicles and power engineering products for consumer. The company generated revenue through its various business segments such as passenger cars & light commercial vehicles, commercial vehicles, power engineering, financial services of which passenger cars & light commercial vehicles are the market focused segments. The company has several product categories including car subscriptions and others of which car subscriptions is the market focused category.

For instance,

• In September 2021, Volkswagen AG entered into a partnership with Europcar. The main objective behind this partnership was to launch a car rental company valued at USD 3.4 billion. Both the companies captured the mobility services market in Europe by offering subscription services to the consumer through this.

The company has wide presence across Asia-Pacific, Europe, Middle East and Africa, South America and North America. The subsidiaries of the company are Audi (Germany), Škoda Auto (Czechia), SEAT (Spain), Porsche (Germany), Lamborghini (Italy), among others. 

Mercedes-Benz Group AG

Mercedes-Benz Group AG is headquartered in Stuttgart, Germany and was founded in the year 1885. The company is engaged in manufacturing of various types of automobiles for consumer. The company generated revenue through its various business segments such as mercedes-benz cars & vans, mercedes-benz mobility of which mercedes-benz cars & vans are the market focused segments. The company has several product categories including drive systems and others of which drive systems is the focused category.

 For instance,

• In February 2022, Mercedes-Benz Group AG launched multiple services such as financing, leasing, car subscription and car rental, fleet management, and digital services for charging and payment for passenger cars and vans in the luxury and premium segment. This will help the company to expand its regional footprint in the market.

The company has presence in Asia-Pacific, Europe, North America. The subsidiaries of the company are Mercedes-Benz, (Germany), Daimler India Commercial Vehicles, (India), Daimler Truck North America, (U.S.) BharatBenz, (India), Smart, (Switzerland), among others.

BMW AG

BMW AG is headquartered in Munich, Germany and was founded in the year 1916. The company is engaged in the manufacturing of luxury vehicles and motorcycles for consumer. The company generated revenue through its various business segments such as automotive, motorcycles, financial services of which financial services is the market focused segment. The company offers product categories such as MINI, John Cooper Works, MINI Electric, Rolls-Royce Motor Cars, BMW Motorrad, Mobility Joint Ventures of the BMW Group and Mercedes-Benz Mobility AG, BMW Group Financial Services, Designworks, A BMW Group Company of which BMW Group Financial Services is the market focused category.

For instance,

• In March 2021, BMW AG entered into a partnership with Daimler. The main objective behind this partnership was to strengthen the digital charging solutions to further accelerate the growth of EV vehicles. This growth in EV vehicles is also boosted the subscription services for both the companies, which allowed them to expand their market

The company has presence across Asia-Pacific, Europe, Middle East and Africa, South America, and North America. The subsidiaries of the company are BMW Motorrad (Germany), HERE Technologies (U.S.), Rolls-Royce Motor Cars (U.K.), BMW M (Germany), BMW Bank (Germany), among others.