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New car service, offering no lock-in contracts

Consumer, The Market Herald
ASX:CL8      MCAP $4.562M
01 April 2019 05:08 (AEST)

Collaborative Corporation Limited has launched Australia’s first truly comprehensive and flexible car subscription service, Carly.

With more than 130 vehicles in 13 different brands to choose from, Carly offers customers a simple way to get the car they want. So far, it’s only limited to Sydney but launches in other cities are planned to follow. 

While a large range of automotive subscriptions has been launched overseas, Carly offers an alternative to long-term contracts. Monthly payment plans, mean customers can change or even swap cars as they go.

This subscription includes registration, insurance, and maintenance, with users being able to start, pause and stop their subscription. Carly is expected to be a hit with younger generations because of the lack of long-term financial commitment, it makes it appealing to those not wanting to be in debt. 

A study revealed that 59 of people ‘probably would’ consider a monthly subscription and 78 of those were born in 1995 or later. Carly seems to be the future, with already more than 870,000 passenger vehicles being sold in 2018, also adding an additional $30 billion to the car subscriptions economy.

“Carly will help automotive dealers and manufacturers combat the decline in vehicle sales and remain relevant to customers who now expect a fully online solution,” Paul Morris, Collaborate Strategic Advisor said. 

Please find announcement attached: https://hotcopper.com.au/threads/ann-launch-of-carly-vehicle-subscription.4691321/

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