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

  • Corporate car sharing fleets set to reach 85,000 vehicles in 2020
    February 24, 2014
    A recent analysis from Frost & Sullivan estimates the number of vehicles in car sharing fleets to stand at around 2,000 in 2013 and forecasts that by 2020 there could be between 75,000 and 100,000 of such vehicles in operation, as providers such as OEMs, leasing arms, rental companies, car sharing organisations (CSOs) and technology providers continually enter the market and expand geographically with competing solutions. With more than half of European automobile sales now accounted for by fleet sales, set
    Read More
  • Report highlights community impact of new mobility options
    March 29, 2018
    Local authorities and communities must understand the impacts of the new mobility options and regulate to get the transport systems they want, according to a new report. Colin Sowman takes a look. Outside of the big cities plagued with congestion, the existing transportation system(s) often cope adequately, and the ongoing workload (maintenance, safety…) is more than enough to keep local transport authorities busy. Is it, therefore, a good use of public service employees’ time to keep abreast of the raft
    Read More
  • Report highlights community impact of new mobility options
    March 29, 2018
    Local authorities and communities must understand the impacts of the new mobility options and regulate to get the transport systems they want, according to a new report. Colin Sowman takes a look. Outside of the big cities plagued with congestion, the existing transportation system(s) often cope adequately, and the ongoing workload (maintenance, safety…) is more than enough to keep local transport authorities busy. Is it, therefore, a good use of public service employees’ time to keep abreast of the raft
    Read More
  • MaaS Market Conference examines transportation’s new options
    January 9, 2018
    Second MaaS Market conference highlights pilots and fledgling services from around the world. That a revolution in the provision of transport services is underway is no longer in doubt. The only uncertainties are the precise form that revolution will take; who will be the winners and losers; and how long it will be before it takes root. Driven by passionate advocates of Mobility as a Service or – MaaS – a wide range of projects and different approaches are being developed worldwide. It is that move from
    Read More

Highlighted Content