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Home Healthcare Management

Online sales and subscriptions will shape tomorrow’s car financing journey

admin by admin
March 24, 2023
in Healthcare Management


Europe’s car market has upshifted from financing to leasing. This move should both endure and accelerate further, powered by the growing market share of electric vehicles (EVs). We also expect a shift in customer behavior regarding mobility patterns and auto financing, having asked more than 4,000 customers across Europe (France, Germany, and the United Kingdom) to reveal what they expect from the future of auto finance. We conducted this research as part of our regular McKinsey Mobility Consumer Pulse Survey, to reveal what customers expect from the future of auto finance.

Mastering online and subscription sets the baseline for future success

The future success of traditional OEMs, noncaptive leasing providers, and digital players will strongly align with becoming proficient at offering online and flexible ownership options. For traditional OEMs, the risk associated with not gaining this capability is significant. Two out of three respondents seeking a vehicle subscription say they would switch to another car brand if their preferred OEM didn’t offer subscriptions. Likewise, 42 percent of consumers who would consider buying their next car online say they would switch brands if their current brand didn’t offer a good online buying experience.


Although digital players in car financing have managed to secure a head start over the past few years, the race is not yet over. Who will get there first? Will OEMs be able to transform their traditional sales and distribution approaches before digital attackers manage to steal market share? Or will independent leasing providers jump in, leveraging well-run operations and good purchase conditions? The answer will likely shape Europe’s automotive financing market as the decade unfolds.



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