OpenRoad Auto Group announced the launch of Portfolio, an all-inclusive, multi-brand luxury car subscription service.
People can sign up for the application-based subscription program and drive up to four new luxury cars per month. For a flat monthly fee, those who take part in the Portfolio service will have access to such brands as Porsche, Land Rover, Jaguar, Lexus, Mercedes-Benz, BMW, Genesis, Infiniti and Audi. Each Portfolio subscription includes comprehensive vehicle insurance, maintenance, pick-up and delivery through a 24-hour concierge service.
Portfolio also allows more than one flip per month, accommodating up to four car changes per month. Subscribers can choose from three exclusive packages – $2,499 per month for six months, $2,999 for three months or $3,499 for a month-to-month subscription. There is also a one-time initiation fee of $750.
“These days consumers are seeking more variety in their driving experience beyond the traditional car ownership model,” said Christian Chia, CEO of OpenRoad Auto Group. “We’re excited to be able to offer a new option that will be attractive to a growing consumer segment – one that delivers more convenience, a lower level of commitment, and flexible access to more dream cars, more often.”
OpenRoad partnered with Clutch Technologies, a software platform provider with a proven track record for helping many U.S. based companies deploy successful car subscription programs. Given the success of the program, the company has plans to expand the service from high-end luxury to a mid-level line up of cars.