Consumers around the globe are rethinking traditional car ownership. Instead of buying and owning a car, some consumers prefer to have temporary access to a car whenever they want it. Others like to subscribe to a car the way they already subscribe to music, films and smartphones.
Via M, a new brand under the Volvo Car Group, we will expand our global mobility operations by providing on-demand access to cars and services.
One of the world’s first subscription service for cars, Care by Volvo, does away with price negotiations and down payments. Instead a national, ready-negotiated monthly fee covers everything involved in having a car, such as taxes, service and insurance. Over time, connected services will also become an integrated part of Care by Volvo via the connected car platform Volvo on Call.
By the middle of this decade, we aim to offer half of all cars to customers via subscription. At the same time, we aim to have established over 5 million direct consumer relationships by then.