New data from Wagonex revealed that younger drivers are most likely to acquire a car on subscription.
Drivers aged 26-35 are six times more likely to get a car on subscription than those aged 56-65, and eleven times more likely than those aged 65+.
With the latest sector statistics revealing that the UK’s car subscription market is the biggest in Europe in terms of revenue, the experts at Wagonex delved into its consumer data to find out key trends in the industry.
Wagonex found that nearly four in ten subscription consumers (39%) are aged 26-35, while a third (33%) are 36-45 years old. Meanwhile, less than one in ten (9%) of those taking out cars on subscription are over the age of 56.
“With a focus on sustainable and hassle-free transportation, the car subscription market is poised for significant growth and innovation in the coming years. At Wagonex we are seeing increased interest from industry players who see subscription as a growing automotive trend, and this is echoed in the wider industry. The latest statistics show a growth of 22% in the UK industry from 2019-2023 and this growth is only expected to continue.”