'Mobility Ecosystem Could Move Towards a Subscription Model'

'Mobility Ecosystem Could Move Towards a Subscription Model'

‘Subscription Model Could Work Wonders for Auto Industry’

Vehicle driving is increasingly becoming a ‘stress’, especially in metros where traffic snarls are quite a regular feature. In fact, the ever-increasing congestion across cities has made one thing clear - vehicle driving isn’t a pleasant experience anymore. And owing to this driving stress vehicle owners are looking at exploring options of how they can move from point A to point B without having to endure the ordeal of driving across traffic-hit cities. Clearly, the automotive industry is steadily but surely moving away from a vehicle ownership model to a vehicle sharing model.

There are enough reasons to convince all of us that multimodal mobility will be the way forward. Kaushik Madhavan, Vice President – Mobility, Frost & Sullivan, said various state governments have been initiating steps to create a common multimobility platform, wherein people can leverage a common subscription model. “The industry is heading towards a scenario where people may like to use a subscription card to switch between cabs, trams, metro, buses, even last mile connectivity, etc which will pave the way for a seamless integrated mobility between different modes of transport.”

There isn’t any doubt that vehicle owners want to shun their vehicle if they are able to find a much cosier way of commuting to workplace, home, etc. “Look, people are not really bothered about owing a vehicle and all they want is a mode of transport from point A to point B,” he pointed out.

It is important to mention that such a subscription model carries a high degree of flexibility. “The subscription model offers flexibility that is unmatched by any other vehicle ownership. You can pick and choose subscription services without the hassles of maintenance, service, spares, etc. Of course, such subscription services are yet to take off in India, but I’m optimistic about its adoption in the near future,” Madhavan noted.

Further, the Frost & Sullivan VP said the good thing about such subscription services is that it does not necessarily have to be restricted to vehicles alone. “Such services can be extended to on-demand features wherein you have the ability to download feature and pay for it only when you need it as well as for healthcare services.

There is also talk that automotive OEMs are focussing on integrating healthcare services within the mobility industry as they see it as a viable business model. “Imagine OEMs integrating heartbeat or rate monitors into the seatbelt, body temperature monitors into the seats, people dilution monitors behind the rear mirror, pulse rate monitors integrated into the steering wheel – so every part of your body is already being monitored, Madhavan explained.

Not just that, the driver’s medical information can be connected to his personal physician record – someone who has been closely tracking his health parametres over the last 10-15 years. “The car will know when the driver needs medical attention, which effectively means that emergency services will be offered at a point even before the driver actually realises it, Madhavan added.