Automotive behemoth BMW has reportedly announced that it plans to launch an automobile subscription service in the U.S. state of Tennessee. It has been speculated that the service, which is termed as ‘Access’ by BMW, will commence in Nashville from next week onwards. Access will reportedly be available to the customers via a local vendor in the month of April. Industry analysts are of the view BMWs decision may have come along the heels of automakers probing ways to reach out to the younger customer base, whose shopping & transportation preferences are molded by car ride-sharing firms such as Uber.
BMW’s Access service falls in line with General Motors’s Cadillac service as well as Volvo’s Care service., GM’s Cadillac and Volvo’s Care facilities integrate lease, maintenance, and insurance into a single monthly payment activity. These vehicle subscription programs also help consumers change their car models more frequently than they can do with the other conventional lease & monthly payment activities. Earlier this year, BMW had introduced a new car leasing initiative that allows its consumers to rent their vehicles or make use of them for providing car-sharing service to travelers.
Reliable reports state that this is not the first time BMW has undertaken this kind of initiative to invest in the car subscription business. In January this year, the captive finance division of the German automaker had launched a flexible lease scheme that allowed the owners of BMW & Mini brand cars in Oregon, California, and Washington to share their vehicles or provide them for car-sharing activities.
Incidentally, BMW had stated that the lease programs were developed to support its integration with car-sharing economy landscape. As per the experts, many more firms across the vehicle manufacturing sector are likely to follow suit and mark their debut in businesses such as car subscription in order to expand their profit margins.
