With one name or another, vehicle subscriptions are making their way in our country. Either under the rental formula or, simply, with a monthly subscription to a vehicle. At the moment, this last possibility is less known, but it does not take more than a little search to verify that the offer is growing. An alternative that drinks from the salary crisis that we are experiencing and that once again leaves out the most impoverished workers.
More expensive?. It is a mixture of factors that is causing an owned vehicle to lose ground. One in which more focus is placed is on the sale prices. It is true that the crisis of the semiconductors and the War of the Ukraine have increased the prices of the vehicles. However, not all cars have done so in the same proportion.
Taking data from INE, in 1992 a worker earned, on average, 147,052 pesetas per month. With 12 payments, it added up to a total of 1,764,624 pesetas. At that time, a Ford Fiesta was worth 1,233,688 pesetas. That is, it represented almost 70% of an average annual salary. Today, we can find a Ford Fiesta from 20,304 euros without discounts. With a average salary in 2021 of 26,832 euros, this represents 75% of an annual salary.
In other words, the price of a utility vehicle is significantly higher, but it cannot be taken as the main defense against disaffection with the private vehicle. A Volkswagen Golf cost 1,671,081 pesetas in 1992. Now, its starting price is 30,700 euros. That is, before it represented 95% of salary, while now it stands at 114%. Here the Golf itself has become noticeably more expensive, almost 20%.
Proportional. Therefore, it does seem that cars have become more expensive, but not all in the same way or in the same proportion. For example, a BMW 520i with 150 hp (half the power of a Ferrari Mondial) cost 3,905,000 pesetas, 221% of the average salary. A BMW 540i xDrive (333 hp) now costs 75,450 euros. It’s 281%. A price increase of 60% in the last 30 years.
In other words, the higher the price of a vehicle, the greater the money that the driver has to invest to acquire it. It is one more example that the wages in the west they have stagnated. And with frozen salaries and a access to housing increasingly complicated, the 20% increase in the cost of a Volkswagen Golf is a much steeper slope.
disaffection. We are asking some young people to they can’t live better that their parents buy a vehicle when living in big cities like Madrid or Barcelona is a 20% more expensive than elsewhere in Spain. Spaces where there are more alternatives than ever to the private car. From public transport to shared vehicles.
In fact, long ago the expedition of Driver licenses has decreased remarkably. In 2008, 1.25 million new drivers were approved. In 2020 the figure remained at 700,000 drivers. And it was not a consequence of the Covid-19 pandemic. In 2013, only 654,924 new drivers joined. It seems that it has more to do with the economy and the bursting of the bubble in 2008.
To this we must add that the anti-pollution restrictions are getting tougher and the jump to the electric car confirms the trend: the cars will be more expensive and more similar to each other. Differentiation, as the brands themselves have explained, will remain in the hands of the services they can offer.
Comfort. Without a doubt, we are in the perfect context for the car to be established as a service, as a subscription. The lease has grown in recent years to reach figures slightly above 20%. And the brands usually offer flexible financing in which we decide what we do with the car in its last installment: keep it, return it or finance the next vehicle.
Some cars, like the new Toyota bZ4X It is only available in your reservation in renting mode and Link & Co, a Chinese firm that wants to settle in our country, only allows the vehicle to be purchased as a company. For individuals, it is only possible to enjoy it with a monthly subscription of 500 euros.
Furthermore, companies like Bipi, Wabi o sixt They offer subscriptions with more or less permanence. Or even without it. And its offer has everything, with options ranging from just over 200 euros/month for smaller vehicles to average prices of 500 euros/month for those who need a medium-sized vehicle.
Flexibility. With some young people who have more and more difficulties in getting a car superior to a utility, it is not surprising that the offer of subscription vehicles increases. A driver with few resources and who does not move the car daily can choose to rent it on the few occasions that he needs. And yet, a single month’s subscription to a compact car can cost more than a quarter of his salary.
The great advantage is that this type of driver can enjoy a vehicle during, for example, their vacation month for the same price that would be worth a whole year of insurance and saving on financing and maintenance fees. In addition, tying yourself to a monthly subscription instead of renting also guarantees having a vehicle that is more suited to your personal needs at any given time.
Leasing or subscription also acts as a kind of economic procrastinator. As we have seen, with salaries losing value, accessing the same category of car as thirty years ago is now more complicated. The monthly installments of one type or another of rental allow access to more expensive vehicles for a limited time. Of course, in exchange for the car never being owned by the client. In the long run, you pay more money, but you have the freedom to end the agreement at any time you want, instead of being tied up with loans that start to approach 10 years of financing.
for who can afford it. Obviously, the previous cases would not be viable if there were no attractive alternatives for the car on a daily basis. The problem is that for those who charge the least, these financings are very difficult to assume. Generally, most impoverished workers They occupy a greater number of face-to-face jobs and away from their homes. According to him IDAE report“Mobility to work: a pending challenge”, not having a vehicle is one more reason for social exclusion.
In said document they also state that most of the Spanish industrial estates (more than 5,000) lack efficient public transport. These people only have one way left: get a very cheap new or second-hand vehicle, where vehicles diesel over 10 years They are the best selling cars. Not having a vehicle is a privilege. Subscribing to one is too.