Nearly 25% of UK millennials ‘favour renting cars’ – new research

Nearly a quarter of UK millennials would forgo buying a car and are likely to subscribe to a car-as-a-service scheme within the next year, according to new research. The study by cloud software subscription service Zuora states UK millennials are ‘key drivers’ for the ‘subscription economy’, with 73% looking to increase subscription use over the next two years. Zuora’s A Nation Subscribed research involved 2,000 consumers and was carried out by YouGov. It shows 77% of 16-24 year olds and 85% of 25-34
October 9, 2018 Read time: 2 mins
Nearly a quarter of UK millennials would forgo buying a car and are likely to subscribe to a car-as-a-service scheme within the next year, according to new research.


The study by cloud software subscription service Zuora states UK millennials are ‘key drivers’ for the ‘subscription economy’, with 73% looking to increase subscription use over the next two years.

Zuora’s A Nation Subscribed research involved 2,000 consumers and was carried out by YouGov. It shows 77% of 16-24 year olds and 85% of 25-34 year olds subscribe to at least one product and/or service – such as gym membership or music streaming sites.

Also, around half of both millennial age groups believe subscriptions are the future, with 31% of 16-24-year-olds expressing interest in connected and self-driving cars.    

Nearly half of respondents rank convenience as the main benefit of using subscription services, followed by cost (29%) and ease of use (27%).

John Phillips, Zuora managing director for EMEA, says millennials are adopting subscriptions at a rapid pace and are pushing companies to rethink their business model.

“It’s likely that as the UK evolves to become smarter, fully connected and more efficient, we’ll see a new generation of businesses catering to this trend,” Phillips adds.

Urban Traffic Control

Related Content

  • Study: Consumers do not understand vehicle safety features
    August 14, 2015
    A new study by the University of Iowa found that a majority of drivers expressed uncertainty about how many potentially life-saving vehicle safety technologies work. The survey also showed that 40 per cent of drivers report that their vehicles have acted or behaved in unexpected ways. The study, conducted by the University of Iowa Transportation and Vehicle Safety Research Division, examined drivers' knowledge of vehicle safety systems, as well as their understanding and use of defensive driving techniqu
    Read More
  • Transport technology transforming bus stops in Los Angeles
    January 20, 2012
    David Crawford reports on a pioneering blend of transport technology and aesthetic By gaining a design award before installation has even started, the US$6.9 million City of Santa Monica (California)'s Big Blue Bus Shelter and Branding Package has ensured early interest among what it expects to be a new wave of transit riders. The American Institute of Architects' Los Angeles chapter's recently conferred 'Next LA Citation Award for Architecture', given for design excellence in projects as yet unbuilt, comm
    Read More
  • VW launches electric car-share in Berlin
    July 9, 2019
    Volkswagen has launched an electric ‘free-floating’ car-share service called WeShare in Berlin. The fleet comprises 1,500 e-Golfs, and they are to be followed by 500 additional e-up!vehicles in the German capital at the beginning of next year. The first units of its full-electric ID.3 are due to be deployed in mid-2020, the manufacturer says. Initially, WeShare will cover around 150 km2 – in the city centre and beyond the city train ring line. The service costs €0.19 per minute but will increase to
    Read More
  • Russia ramps-up technologies for transport communications
    March 28, 2018
    Covering an area almost as big as the US and Canada combined, Russia is planning to increase transport-related communications to improve road safety and traffic efficiency. Eugene Gerden reports. Russia’s government plans to increase road safety through the use of modern transport communication and the development of the relevant legislative base. Initially, particular attention will be on the introduction of connected cars and Vehicle to Anything (V2X) technologies. Russia has fewer than 60,000
    Read More

Highlighted Content