Vehicle Subscription Market Size

Vehicle Subscription Market size is evaluated at USD 4.9 billion in 2024 and is anticipated to exceed USD 182.7 billion by the end of 2037, growing at over 35.2% CAGR during the forecast period i.e., between 2025-2037. In 2025, the industry size of vehicle subscription is assessed at USD 6.6 billion.

Vehicle subscription allows customers to subscribe and pay a recurring fee to use a vehicle. Certain vehicle subscription services allow end users to switch vehicles while covering insurance and maintenance fees as part of the subscription package. The vehicle subscription market’s growth curve is owed to the cost-effectiveness of a vehicle subscription model. The flexible nature of subscription models makes it much more appealing to the younger demographics. The younger demographics are more prone to traveling for work and switching cities, which makes vehicle subscription plans lucrative as vehicles can be subscribed based on need and convenience.

Key players in the vehicle subscription market are striving to improve the flexibility in their subscription models and customize all-inclusive prices in the subscription plans to retain subscribers. For instance, Maruti Suzuki Subscribe offers insurance, registration, maintenance, and roadside assistance in its inclusive subscription plan. In March 2024, Maruti Suzuki Subscribe announced 10,000 customers in its vehicle subscription plan as well as announced a 44% revenue growth in the financial year 2023-2024 from financial year 2022-2023. The growth statistics are a testament to the potential of the vehicle subscription market.