Lexus is to get in to the car ‘subscription’ model with the new Lexus UX Compact SUV, offering an all-encompassing single monthly payment option.
In a car landscape which is changing faster than at any time in history, with autonomous cars and electrification threatening to overturn the current status quo, car makers are looking for ways not just to grow, or maintain, sales, but to find new ways to get ‘buyers’ in to their cars.
Flavour of the year is a ‘subscription’ service, a way of getting in to a new car which is much like a mobile phone contract, where one single monthly payment covers all costs from maintenance to insurance.
Volvo is already committed to this space with its ‘Care by Volvo‘ subscriptions, and Lexus are dipping a toe in the same water with the new UX SUV.
Lexus are rolling out ‘Lexus Complete Lease’ in certain locations in the US – Miami, Chicago, Boston, and Los Angeles – when the new Lexus UX goes on sale in a few months, and they too will be including all costs in a single monthly payment., Although, so far there are no real details.
With the UX aimed at younger aspirational drivers, offering a single, simple monthly payment option is a sensible way for Lexus to get a new demographic in to their cars, although much will depend on just how much the UX is going to cost.
But with prices for the new UX not dissimilar to the Volvo XC40, the Care by Volvo cost of an XC40 T3 at £515pm is probably a ball park figure.
If the subscription plan by Lexus works for the UX, you can doubtless expect it to find its way to the UK – and perhaps to other Lexus models too – before too long.