As Renault Subscription celebrating its first anniversary, the Renault Subscription manage to help Renault in clinching the Malaysia Car Subscription Company of the Year during the 2020 Frost & Sullivan Asia Pacific Best Practices Award.
The Company of the Year Award is evaluated independently by Frost & Sullivan analysts based on the following key benchmarking criteria: addressing unmet needs, implementation of best practices, financial performance, price and performance value, customer service experience and brand equity.
The Renault Subscription was designed to provide consumers with a new mobility option with more freedom and flexibility, while breaking away from the traditional long-term hire-purchase tenures, ownership costs and depreciation. Renault Subscription also lowers the barrier for those who are interested in driving a Renault and the opportunity to upgrade to a continental vehicle.
After 1 year, the Subscription programme manage to generate more than 135,000 enquiries from interested parties and acquired more than 1,000 customers. Among those who signed up, 10 percent actually own more than one Subscription plan. The few main reasons to choose the Subscription include no loan concerns, no long-term lock-ins, no depreciation concerns, a new car every two to three years, no downpayment, no interest rates and all-inclusive costs.
The subscription model has proven to be well-received amongst younger audiences, with more than 50 percent of customers below 40 years old. Another segment that Renault Subscription is popular with is the expatriate group (20 percent of customers) who appreciate the flexibility and affordability it offers.
The various Fixed plans are the most popular with 74 percent of customers selecting a Fixed Plan. The Trial plans comprise 21 percent of customers while the Switch plans are taken up by 5 percent of customers.
As far as models go, the versatile Captur remains the most popular, with 82 percent of customers opting for the lifestyle crossover.
Those interested in Renault Subscription can visit the Renault E-Store for information and to register an account. Launched early this year, the E-Store provides customers with a seamless end-to-end online purchase or subscription process, from arranging for test drives and submitting documents to taking delivery of the vehicle and making payments.
To visit the Renault E-Store or for information about Renault in Malaysia, visit www.renault.com.my or call 1800-18-8663 (Monday – Sunday, 8am – 8pm).