Volvo held 49% more active car subscriptions in 2022 than in 2021, thanks to customer demand for the new ownership model, CEO Jim Rowan has said.
It had roughly 25,100 subscription cars on the road during the fourth quarter of 2022, a significant increase on the 16,900 during the same period in 2021 and 5500 at that point in 2020.
Speaking on a call with journalists following the release of the company’s full-year financial results, Rowan said the subscription model is “here to stay” as customers seek alternative methods of obtaining cars.
