The Renault Subscription programme is celebrating its first anniversary this month. Launched in August 2019, Renault Subscription is designed to offer consumers an alternative mobility option. The programme provides a more affordable and flexible use of a vehicle, beyond the traditional hire-purchase model as well as car sharing and rental options currently available.
The concept was to help customers who want to break away from long-term hire-purchase tenures, and not deal with associated ownership costs and concerns about depreciation.
Coincidentally, Renault has been named Malaysia Car Subscription Company of the Year at the 2020 Frost & Sullivan Asia Pacific Best Practices Awards for its subscription programme.
“We are delighted to have received this prestigious accolade from Frost & Sullivan. It is testament that Renault Subscription – a first-of-its-kind by an OEM – has successfully disrupted the industry status quo by creating a new niche within a highly-competitive landscape to address unmet consumer needs,” said Wong Hoe Mun, CEO of TC Euro Cars (TCEC), the sole franchise holder for Renault vehicles in Malaysia.
The Company of the Year Award is evaluated independently by Frost & Sullivan analysts based on the criteria such as addressing unmet needs, implementation of best practices, financial performance, price and performance value, customer service experience and brand equity.
“We are proud of the ground we have made with Renault Subscription. We truly believe that Renault Subscription is changing lives and the way consumers view their relationship with their vehicles. The Movement Control Order and on-going COVID-19 pandemic has been challenging but by constantly innovating on our offerings, we believe we are able to meet the market where they are – matching their needs with a solution that they are looking for,” said Wong.
With affordable rates and multiple plan options, Renault Subscription also lowers the barrier to entry for those interested in driving a Renault, offering them the opportunity to “own” or upgrade to a vehicle of continental quality and standards.
According to Renault, the subscription programme has generated over 135,000 enquiries and thus far acquired more than 1,000 customers. 10% of these customers own more than one Subscription plan. Key reasons cited for choosing Subscription include:
- no loan concerns
- no long-term lock-ins
- no depreciation concerns
- a new car every two to three years
- no downpayment
- no interest rates and all-inclusive costs
Further, the subscription model is well-received among the younger crowd, with over 50% of customers below 40 years old. Another segment of customers is expatriates, who make up 20% of customers and appreciate the flexibility and affordability factors. We had also try out this subscription on a short-term basis.
“I have been interested in the Captur for some time but as a foreigner, it is very difficult and tedious to secure a bank loan in Malaysia. Renault Subscription is ideal because there is less hassle and the approval process much faster. Furthermore, it is way more affordable than car leasing or rental and I’m assured of getting a comfortable brand-new continental car instead of a smaller used vehicle,” said subscriber Mariko Yasumura, a Japanese national who has been living and working in Malaysia for 10 years. The Captur compact crossover is the most popular, with 82% of customers subscribing to it.
TCEC has three Renault models in seven variants available for subscription i.e. Captur, Koleos and Megane R.S., in a choice of Fixed and Switch plans. Earlier this year, TCEC also launched the 7-Day Trial Plan, 1-Month Trial Plan and Pre-Owned Captur 1-Year Fixed Plan to provide more options.
The various Fixed plans are the most popular with 74% of customers signed up. The Trial plans comprise 21% while the Switch plans are taken by 5% of customers. The Trial plans are a good introduction for those who want to gain more familiarity with the brand and the idea of subscribing before committing.
Affordability and the Captur were what attracted husband and wife, Mohd Nizam A. Hamid and Izatul Shima binti Shahiri to Renault Subscription. “I absolutely love the Captur with its performance, handling, ride comfort and fuel economy. Out of 100 percent, I would rate my experience with the car at 90 percent. Now, with Renault Subscription and the all-inclusive costs, it is more affordable than repayments for longer-term bank loans. You get your car faster and with less hassle as well. In these challenging times, people need to save more but also mobilise more so having an affordable solution is essential,” said Mohd Nizam.
“Renault has good vehicles and I was looking for a premium SUV. After doing my research, I decided that the Koleos 3-Year Fixed Plan is a very safe deal. I can return the car at the end of my subscription without having to worry about selling it and its resale value. And I don’t have to worry about other ownership concerns and costs like spare parts, road tax, insurance and maintenance,” said business owner Mr. Chan.
Those interested in Renault Subscription programmes can visit the Renault E-Store for information and register an account. The E-Store provides you with a seamless end-to-end online purchase or subscription process, from arranging for test drives and submitting documents to taking delivery of the vehicle and making payments.
Renault Subscription Deals
TCEC is offering special deals on Renault Subscription programmes this month. You will enjoy savings of up to 38% as well as free upgrades to the special edition Captur Trophy worth up to RM7,200 for Fixed plans on the Captur.To visit the Renault E-Store or for information about Renault in Malaysia, visit www.renault.com.my or call 1800-18-8663 (Monday – Sunday, 8 am – 8 pm).