Saturday , June 10 2023

The portfolio of OpenCoad by B.C is like Netflix, but for luxury vehicles


BURNABY – The subscription model makes the world through the storm. Media companies such as Netflix and Spotify revolutionized the cinema and music industry. Amazon Prime was a resounding success. In 2016, the Dollar Shave Club sold Unilever a billion.

Now the luxury automobile industry comes into play. Last year brands such as Porsche, Volvo and Cadillac launched their own subscription models. And Thursday, OpenRoad Auto Group, the largest group of car dealers in BRC, made the first breakthrough in the subscription economy by launching the Portfolio application.

The OpenRoad portfolio is the first luxury luxury car service subscription service that includes all the services included. Using an application, members of the portfolio can get behind the wheel of one of the nine luxury brands, and when they get tired of the machine, turn it over with another machine with just a few clicks and clicks.

If you bring to mind Car2Go images, do not be fooled: these are the cars you make want to be seen in.

The Chief Executive of the OpenRoad Auto Group, Christian Chia, has another application anyway.

At Burnaby's Thursday launch event, Chia explained that Portfolio is "a kind of Netflix type, but you'll end up driving stunning luxury vehicles."

In the same way that a Netflix subscription gives you access to every movie in the media library, Portfolio by OpenRoad offers members exclusive access to a range of brilliant cars from nine luxury brands – Audi, BMW, Genesis, Infiniti, Jaguar, Land Rover, Lexus, Mercedes-Benz and Porsche. Most vehicles in the Portfolio fleet are valued at over $ 100,000.

After paying the $ 750 initiation fee, subscribers can choose between three packages: $ 2,499 per month for six months, $ 2,999 per month for three months, or $ 3,499 for a monthly subscription. After enrollment, members simply select the machine they want to run through the application and in 48 hours they will be delivered with a full gas tank.

In short, it's an application that will bring you a Porsche in a very short time, provided you have the means.

"This is a luxury service," Chia said. "If you want versatility, flexibility and do not want to be locked into a long-term commitment, this is very attractive and hassle-free."

"You do not have to do anything."

Chia sees the subscription model as a logical step for the automotive industry.

"We see a lot of changes in how people want and need and use mobility, especially in (Vancouver)," he said. "What we see is a lot of urbanization – we see that a lot of people are moving into homes smaller ones, some with a single garage or a shared garage. And with these changes there are changes in the way we offer cars and how we sell cars. "

"If you look at the history of car ownership, the purchase of a car was the only option, then the financing came in. At the end of the 80s and 90s, leasing became very popular, and we think this is an evolution of that cycle. "

The portfolio allows members to have access to more cars while driving only one, Chia explained, providing the changing needs of members in a way that even the short-term commitment of a lease can not.

"Tonight, do not hesitate to use Porsche Cayman. An important business meeting? Find a beautiful Genesis G80 or a BMW 5 Series. Then, on the weekend, when you help your daughter move to a home, you can get a Audi Q7, "he said. "It really gives you a lot of flexibility, keeping your commitment at a minimum, so that's the other big benefit."

To begin with, the Portfolio service area covers most of Metro Vancouver and beyond, from North Shore to Abbotsford, but there are already plans for expansion both in terms of covered land and vehicles offered. But even at this early stage, Portfolio is ahead of the game. Other car companies will launch their own competing subscription models in the coming years, but Chia did not seem worried.

"It will be very difficult to match the variety and versatility we can offer," he said.

Portfolio by OpenRoad offers its first vehicles on January 1, 2019.

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