Hyundai Sees the Future of Car Ownership In Subscriptions

All of us have subscriptions to magazines, streaming services, newsletters, etc. But what about a subscription for a car?

Last week at the LA Auto Show, Hyundai unveiled the “Ioniq Unlimited” subscription-based ownership experience that will begin next year in California. Available for the upcoming Ioniq EV, Hyundai hopes this program will draw buyers in with its worry-free experience and one-time payment.

The program works by a buyer going online and picking the exact vehicle from their preferred dealer’s inventory, along with the term of subscription - either 24 or 36 months. Once they're approved, a buyer heads to dealership to sign some forms and drive away in their new vehicle. It should be noted that the one-time payment will cover electric charging costs, scheduled maintenance, wear items, and other fees.

“We’re excited to offer Ioniq Unlimited as an innovative, worry-free means of clean, zero-emission vehicle ownership along with our new Ioniq Electric vehicle. This new ownership experience adds to the satisfaction of driving a no-compromise, clean vehicle with unlimited mileage and zero hidden costs. It was time to make clean vehicle ownership easy for everyone,” said Dean Evans, vice president of marketing for Hyundai Motor America.

How to Test Drive A Ioniq EV for Free

Hyundai also announced a new car sharing deal with a WaiveCar to offer a free two-hour drive of a Ioniq EV. Beginning early next in Los Angeles, people can reserve an Ioniq EV and drive around for two hours at no cost. WaiveCar will handle unlocking and locking of the vehicle, so you don't need to worry about having some sort of card or key to do this.

You might be wondering how WaiveCar is expected to make any money off this. Their business model is based on advertising. All of their vehicles come wrapped in promotional material and feature roof mounted digital display that show geo-targeted ads. They'll also charge $5.99 for each additional hour you want to spend driving the Ioniq EV.

“WaiveCar presents some great solutions for us. The IONIQ offers emissions-free transportation to on-the-go Angelenos. This partnership allows us to reach potential customers and give them the opportunity to test drive our outstanding IONIQ electric while generating awareness for the IONIQ brand at the same time,” said Mark Dipko, director of corporate planning and strategy at Hyundai Motor America.

Pic Credit: Hyundai