Business
Start-up thrives as Netflix generation embraces car subscriptions – The Australian Financial Review
Loopit’s founder says Australians are increasingly keen to subscribe to a car, rather than buy it, and that dealers are signing up in droves to offer the option.
The company has grown quickly, with more than 500 dealerships across the country using the software to offer subscriptions. Michael Higgins, Loopit’s managing director, said dealers could get much more value from each vehicle via subscriptions, with an average revenue of $13,728 per car per year.
It has a broad range of cars offered on its platform, with high-end and luxury vehicles such as the Range Rover Sport recently added, commanding revenue of about $645 per week.
Michael and Paul Higgin…
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