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

  • Moneybarn: 1,800% increase in UK electric car registrations over five year period
    November 2, 2017
    Nearly 10,000 electric cars are now registered in the UK with Japanese and German manufacturers dominating most popular brands in the UK, according to a five-year analysis on the development of the Electric vehicle industry by Moneybarn. These findings have been revealed following the government’s plan to ban the sale of all petrol and diesel vehicles from 2040.
    Read More
  • More Than: over half of Britons in test support car crash images used as speeding deterrent
    November 20, 2017
    58% of Britons who took part in a More Than (MT) visual deterrent speed sign test support its new proposal for speed limit signs to be accompanied by images of car crashes to deter drivers from speeding. The test follows a recent study from the campaign group, which revealed that 62% of drivers regularly ignore speeding signs along with 25% who stated that the threat of having to attend a speed awareness course isn't enough of a deterrent. Upon the reasons behind the effectiveness of the images in causing
    Read More
  • Arup’s vision of urban mobility in 2050
    May 6, 2015
    Arup’s vision of the Future of Highways considers a wide range of factors that will impact on mobility towards the middle of the century. In its consideration of the Future of Highways through to 2050, international consultants Arup has taken a broad and pragmatic view of where society is heading and the effects that will have on the transport requirements. In terms of major drivers it not only cites
    Read More
  • Horiba urges electric retrofits for bus fleets
    November 4, 2019
    Horiba Mira is urging bus manufacturers and operators to consider converting existing buses with electric powertrain technology to help the UK achieve a cleaner public transportation network. Horiba’s global electrification services leader Greg Harris says: “While the onus to date has mainly been on bringing new electrical buses to market, not to be overlooked is the major role retrofitting existing buses to e-buses can play in the UK’s all-electric bus towns pilot, and in meeting the EU’s clean vehicles d
    Read More

Highlighted Content