A Year of Remarkable Car Subscription Growth at Karmo

Big Growth in Car Subscription

2023 was a record breaking year at Karmo. We saw a boom in car subscriptions across all services. Australians are moving away from traditional rentals and leases for subscriptions – a smarter and more flexible alternative. As interest in the subscription model continues and as it changes how Australia drives we are positioned strongly to keep bringing you the latest cars for the best weekly rates. Buckle up as we look at some eye-popping stats trends. 

Journey To the Moon and Back 26 times In a Year 

Karmo cars travelled over 20,000,000 kilometres in 2023. To put this in perspective , that’s the equivalent of travelling to the moon and back 26 times or going around the Earth 500 times. By the time you finish reading this article, Karmo cars would have travelled 76 kilometres. 

The Electric Vehicle Hype Continues

In 2023, more than 30 percent of our fleet was either electric or hybrid. We have grown our EV car fleet by 240 percent over the year. The demand for electric vehicles is on the rise with an increased push toward clean mobility from the private and public sector government through the Federal EV strategy as well as the various state based private and fleet EV incentives. Karmo was proud to have been awarded grants through multiple phases of the NSW EV Fleet incentive. 

We Kept Our Only New Cars Promise

At Karmo we walk the talk with our drive only new cars promise. The average age for our subscription cars this year were less than 6 months and rideshare rental cars were less than 4 months. 

Half of All Short Term Car Subscription Customers Go Long Term 

Half of all customers who came to Karmo for a short term transport solution have gone long term with us and have stayed with us over the last year. On average, rideshare rental customers have swapped five cars and subscription customers have swapped two cars. With a more streamlined pick-up and delivery system in place at our Brisbane, Melbourne, Sydney, Perth and Adelaide hubs we expect even smoother swaps and upgrades in the coming year. 

MG, Toyota and Tesla Top the Charts. 

Our most popular car brands for the last year were MG, Toyota and Tesla with mid-size SUVs being the most popular vehicle segment. This is reflective of the Australian car market which saw mid-size SUVs being the most preferred vehicle segment in 2023. The extra space on offer has made mid-size SUVs the perfect option for families with children. 

Car Subscription Is For All Ages 

Contrary to popular opinion, car subscription is not just a ‘millennial thing’. Car subscription is an intergenerational phenomenon just like cooking, gardening or playing a sport. In fact two thirds of our customers were over the age of 35. They have been quick to realise the benefits of flexible car subscriptions over long term options such as leasing and rent to own. 

Resolutions for 2024: Putting You In The Driver’s Seat

Staying customer focussed

As we continue to grow our priority is to stay customer focussed and ensuring a seamless experience from car selection to upgrades and maintaining exceptional flexibility and customer service. 

Enhancing the Car Subscription Experience

We believe in maximising the benefits of car ownership while minimising the risks and costs. We want to ensure you’re paying for the latest in car technology at the most affordable prices without any hicupps. 

Improving communication

We have rolled out a new help centre to simplify finding subscription-related information and we want to enable you to be more in control of your booking in the coming year.

Ready to join the Karmo revolution in 2024? Visit our website and experience the future of driving!

Being Tech-focussed

Our proprietary car subscription software is shaping out well. This will enable you to have more control over your booking and help us optimise procurement and provide a wider subscription range.