Hyundai partners with Carly for car subscription service
Carly can now offer Australians flexible vehicle usage via the Hyundai dealer network.
Korean automotive giant Hyundai has today announced its partnership with Australia's leading car subscription service, Carly, to offer customers a commitment free solution to car ownership. Hyundai dealers will retain ownership of the vehicles for eventual used car resale, while Carly provides the facilitative consumer technology platform to manage the subscription relationships.
This partnership is a response to a growing concern within the industry that new car sales are dropping, with car sales last month dropping again for the 18th consecutive month since 2018. This is likely due to a number of factors including restrictions by the banks on borrowing (likely due to the Royal Commission), the ever-growing cost of living and general car maintenance costs.
The announcement today is potentially great news for those seeking flexible access to vehicles as an alternative to long term vehicle ownership. Hyundai and Carly's car subscription service allows people to choose their vehicle from a wide range and have it delivered to them fully insured, serviced and registered. They can even switch their car when they choose to and pause their subscription for those times when they don't need a car.
"The future of personal mobility will not be based solely around vehicle ownership, and Hyundai will adapt to changing consumer demands." says JW Lee, CEO of Hyundai Motor Company Australia, "Through this partnership we will provide consumers with more choice, an alternative to purchasing a vehicle, which for some drivers may better suit their ever-evolving lifestyles."
Is this the future alternative to car ownership?
Early last month Jaguar Australia announced a partnership with subscription service Carbar, so there's no doubt that there's a significant growing trend within Australia of manufacturers and subscription services teaming up in light of the dwindling new car purchase figures. And it's certainly a convenient solution for many people who wish to drive a new car, without the commitment of taking out a car loan and without having to continuously worry about maintaining, insuring or eventually selling their car when they need to change models.
That being said, whether the long-term costs stand up as financially more viable than car ownership is still up for debate. And for people struggling to get a bank loan under newly tightened regulations, there are numerous alternative lenders who are bridging the gap in the market.