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Porsche Has a New Subscription Service Starting at $2,000/Month

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I’ve heard of a lot of things in my day, but this is one that is new and kind of interesting. What do you think of when I say “subscription services”? I’m guessing the first thing that came to mind are services like Netflix and Spotify. But where you’re going to be surprised who is bringing the next subscription service and what it gives you. According to a report from Bloomberg, Porsche is going to be launching a new subscription program that will enable you to get behind the wheel of various Porsche vehicles for very little money. Well, it’s not little to me, but it’s definitely going to pique the interest of some people who are into luxury cars.

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It is called the Porsche Passport. The program has multiple tiers with the least expensive starting around $2,000 a month. At this introductory price, subscribers will have on-demand access to a Porsche 718 Boxster, Cayman S, Macan S or a Cayenne. If you want to splurge and pay $3,000 a month, you’ll have access to 22 different Porsche models, including a Porsche 911 Carrera S and the Panamera 4s sports sedan. But this is kind of expensive, don’t you think? At least I think it is. But if you’re willing to put up six figures to buy a Porsche, this might be a less expensive way to go. The subscription fee includes detailing, maintenance, insurance, and any applicable taxes. In addition, you will have to pay a one time, $500 activation fee.

The program is super easy, in terms of what you have to do. And that is – get your Porsche Passport app ready, select the vehicle you want, and then Porsche will handle the rest. Porsche is trying to get younger buyers into the Porsche brand. There are millennials who are incredibly successful, and who have the financial power to own a Porsche, but they don’t want to own a Porsche.  Porsche made the following statement in a press release about the program:

“Our Strategy 2025 vision is to be the most aspirational brand in a new era of mobility and consumer expectations. Catering to customers’ desire to experience our sports cars in new ways is a part of our core strategy. With Porsche Passport, we now offer our customers a simple and flexible driving solution at their fingertips.”

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Right now, this program is only available to people in and around Atlanta, and it’s unknown if this will expand to other areas. You have to hand it to Porsche, though, this is quite the idea. I mean you’re getting an expensive car, for as little as $24,000 a year. Now, that might seem like a lot – and it does to me. But I’m not who Porsche is marketing their cars to. Don’t get me wrong, I think they’re beautiful. But I’m not going to be running out and buying one. Or even subscribing to one. Although I would love to. It makes you wonder if the audience they’re trying to target will find value in this kind of program. I am extremely interested to see if this expands – both geographically or to other car manufacturers. And even what kind of pick up this will have in other industries.

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