[Loopit #038] Loopit partners with Avis/Budget; FINN scores €1B for subscription growth

The race to redefine mobility is on! ???? Major players in the car subscription and rental space are making bold moves, from Loopit partnering with Avis Budget Group franchisees to help rental companies adapt, to FINN securing €1 billion to fuel its European expansion. We’re also seeing Hyundai double down on electrification in its subscription fleet and Carbar merging with Carly to dominate the Australian market. These are the latest moves driving the future of flexible, sustainable transportation. Dive into the headlines below! ??

Partnerships and Collaborations

• Loopit.co partners with major Avis Budget Group franchisees to offer unified vehicle subscription and rental management, enabling traditional rental companies to adapt to changing consumer preferences for flexible mobility solutions while streamlining operations. (Auto Rental News)
• Klarna partners with car subscription startup FINN to bring flexible payment options to the booming car subscription market in Germany, a sector projected to reach $85 billion globally by 2033. (Finextra)
• Smart and Intellihub Group have partnered to launch an innovative green energy subscription service in Australia, offering customers access to solar panels, home batteries, EVs, and smart energy management solutions without upfront costs. (ESD News)
• Car subscription pioneers Carly Car Subscription and Carbar are merging to create a leading player in the Australian market, with Carbar's CEO Desmond Hang highlighting the potential for growth in novated subscriptions. (Business News Australia)
• Volvo Cars is shifting to a partner-based car subscription model by selling its Care by Volvo contracts in the Netherlands to Ayvens and in Sweden to Ziklo Fleet Services. (Automotive News Europe)
• Hyundai Motor Deutschland GmbH has signed a framework agreement to provide 5,000 vehicles to leading car subscription platform FINN in 2025, with 65% being electrified models, signaling a significant commitment to the growing subscription market and accelerating EV adoption in Germany.

Investment and Growth

• FINN , the Munich-based car subscription platform, has secured a €1 billion ABS financing program to expand its fleet and fuel growth in Germany and across Europe. (EU Startups)
• OX Delivers, a UK-based startup, is revolutionizing the African automotive market with a unique subscription model for flat-pack electric trucks, securing a $163 million deal to expand across East Africa and potentially disrupting the global auto industry by offering flexible, eco-friendly transportation solutions tailored to emerging markets. (Electrek)
• POSH, a Boston-based luxury car subscription startup led by CEO Abdul Rehman, has disrupted the premium automotive market by reaching $2 million in revenue and serving over 800 subscribers in its first year, demonstrating the growing consumer demand for flexible, hassle-free access to high-end vehicles without long-term ownership commitments. (Globe Newswire)

Consumer Trends and Insights

• A new survey from Deloitte reveals 44% of young Americans are willing to give up car ownership in favor of mobility-as-a-service solutions, signaling a potential shift in consumer preferences that could reshape the automotive industry and accelerate the adoption of subscription-based mobility models. (The Drive)
• JLR's investment arm InMotion Ventures is attracting wealthy millennials with flexible subscription services like Pivotal - Subscription by JLR and The Out, offering high-end vehicles for monthly fees up to $2,700, as part of JLR's strategic shift towards the luxury market and younger demographics. (Fortune)
• Hyundai Motor Company (?????) is streamlining its subscription services by merging Hyundai and Genesis platforms into "Hyundai Genesis Selection," expanding vehicle choices and enhancing customer benefits across both brands to provide a more seamless and diverse mobility experience. (Maeil)

Loopit.co revolutionizes the car rental and subscription industry with its state-of-the-art billing and management platform. Originating from HelloCars, one of the world's first retail car subscription services, Loopit now empowers a diverse clientele of OEMs, dealerships, and mobility startups including Subaru, SIXT, Polestar, Karma and more.

As a leader in technology-driven transformation, Loopit is dedicated to enhancing customer experiences and operational efficiency in the automotive sector. Discover how Loopit can innovate your business - visit www.loopit.co to learn more and join the car subscription revolution.