Mon. Oct 18th, 2021

In 2021, credit The card statement is routinely loaded with monthly charges: Netflix For video, Spotify For music, Xbox Games Pass To play, Peloton For fitness – and so on, food kits, wine boxes, and so on High protein, low-carb cereal. Financial services company UBS Guess That “subscription economy,” driven by epidemic-induced changes in buying habits, will grow 18 percent annually for the next four years, reaching 1.5 1.5 trillion in 2025.

Now car manufacturers want to join the party.

The idea is simple: we’ll sell you a car with a dash cam, or it could be hands-free, or it could train you with telematics data to be a better driver. But if you really want to Use Any new toy, you have to pay extra. Credit Tesla To popularize the idea that cars can be updated with software even after they have gone too far.

General Motors told investors this month that subscription services could bring in $ 20 billion to 25 25 billion annually by 2030. The company says 4.2 million customers have already paid for its Onster security services, including an app that costs 15 15. Electric car startup Rivian A recent financial filing said it could bring an additional $ 15,500 to the life of each vehicle, including software-enabled services, including an autonomous driving feature and a subscription to infotainment, internet connection and diagnostics. BMW There was buzz and excitement last summer over plans to charge via subscription fees for features like heated seats. In the United States, Automaker offers subscriptions to an onboard dash cam and a remote car starter.

Over the past few years, automotive companies have “planned to transform from an industry that sells goods to an industry that sells services and products,” says Brian Irwin, head of automotive and mobility practices at Consultant Accenter. Today’s vehicles come with multiple computer chips, cameras and sensors – and thus, an interesting opportunity to use detailed information in both creating and selling new products.

The industry’s move towards electrification may make the concept more attractive. “Consumers are looking at EVs as a new technology that enables new things,” said Alan Wexler, who oversees services and data insights at General Motors. This means that they are willing to think about paying for the car in a new way. In fact, if you start thinking of your wheels as a “platform”, a device like a smartphone that will need to purchase some extra apps to fit nicely into your life, if car manufacturers like it.

In 2019, BMW withdrew plans to charge drivers an annual fee for using Apple CarPlay in the image above.

Photo: BMW

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