Wagonex and OneSummit open market in South America

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The UK vehicle subscription platform Wagonex announced its first transatlantic deal with one of Chile’s largest car dealerships, OneSummit, it said in a press release.

As part of the agreement, Wagonex will assist OneSummit in broadening its fleet solutions throughout the South American market by leveraging its own branded subscription platform, it added.

The platform has been launched this month, marking one of the initial car subscription offerings in the South American nation, it said.

The global vehicle subscription market is expected to increase to $21.6 billion by 2031 from $4.7 billion in 2024, according to Wagonex.

“We look forward to exploring a wealth of opportunities across the South American market as well as several other countries on a global level,” Toby Kernon, CEO and founder of Wagonex, said.

Vehicle subscription is a relatively new concept that is gaining traction due to its flexibility, according to data from the company’s website of Wagonex.

The process of ordering a vehicle subscription is entirely conducted online. Customers simply choose the available subscription vehicles, select their desired vehicle, specify the duration and monthly mileage they require, furnish their details, and proceed with the order. Following this, the vehicle is delivered directly to the customer’s doorstep, and upon completion of the term, the company retrieves it, it said.

Wagonex vehicle subscription: Pros

Cons

Subscriptions typically offer cost savings and access to higher-quality vehicles.

When applying for a subscription vehicle, you'll undergo a soft credit check.

You have the freedom to select the precise make, model, and trim of your desired car.

Even though it’s refundable, a small deposit is required.

Brand-new vehicles are readily available for subscription, or opt for nearly-new ones for savings.

You'll be responsible for arranging insurance. While you can obtain an insurance quote through the subscription service, it may not always be integrated into the monthly price. Alternatively, you can arrange insurance independently.

Extended subscriptions beyond 90 days are an option, with the flexibility to extend contracts for the same vehicle if your circumstances change.

Get your car delivered to the location and on the date that suits you.

Source: Wagonex

Founded in 2016, Wagonex gives consumers direct access to vehicle subscriptions of all shapes, sizes, and lengths, while OneSummit, founded in 2000 is the leader in sales and services of recognized brands in the market, according to both company's LinkedIn profiles.

Meanwhile, Chile’s leasing sector expects a decline of up to 5% to 130, 256 units during this year due to the country’s political and economic uncertainties, according to Franco Capurro, Manager of Chilean leasing company Salfarent.

Trucks and vans constitute about 90% of the leased fleet in Chile. Mining, forestry, and commerce are the sectors that require more units in the country, according to Capurro.

Shutterstock ID: 1559801933

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Source link : https://www.globalfleet.com/en/leasing-and-rental/latin-america/features/wagonex-and-onesummit-open-market-south-america Author : Publish date : 2024-05-14 03:00:00 Copyright for syndicated content belongs to the linked Source .

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Wagonex and OneSummit open market in South America

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