Retail

Mercedes-Benz Upgrades Subscription Service To Include AMG Models

Mercedes-Benz Upgrades Subscription Service

Mercedes-Benz has upgraded its subscription service to include high-performance AMG models, according to a report by The Verge.

People who subscribe to this new tier of the service will get access to 11 car models, which include coupes, sedans, roadsters and sport utility vehicles (SUVs) that are “powered by AMG’s signature handcrafted V8 engines.”

The new tier will cost more than the previous ones, at $3,595 per month. The Signature tier costs $1,095 per month, the Reserve is $1,595 and the Premiere costs $2,995. There is also a one-time fee of $495 to join the service. The plans come with service, insurance and roadside assistance. Also included is a “personal concierge,” who can help members to swap out vehicles.

The subscription service was started in Atlanta about two years ago with the goal of attracting customers who wanted to be able to drive fleet of upscale cars without owning them. Currently, the service is only available in Nashville and Atlanta.

Models in the new tier include the G63 SUV, GTC Coupe, GT Roadster, GT63 4-Door Coupe, and E63 S Wagon, although they will only be available in Atlanta. The cars are equipped with the company’s 4.0-liter twin-turbo V8 engines.

While not extremely common, an increasing number of car manufacturers have been looking at subscriptions as a viable way to attract millennial consumers who don’t want to use traditional buying or leasing options. Dealers object that the model is cutting into their business.

Other companies, including Cadillac, Nissan, Audi, Porsche and Jaguar are all testing subscription services. Even car rental companies like Hertz and Enterprise have been looking into the endeavor. The trials are mostly in pilot phases in selected cities.

——————————

LATEST PYMNTS REPORT: MARCH 2020 B2B API TRACKER  

B2B APIs aren’t just for large enterprises anymore — middle-market firms and SMBs now realize their potential for enabling low-cost access to real-time payments and account data. But those capabilities are only the tip of the API iceberg, says HSBC global head of liquidity and cash management Diane Reyes. In this month’s B2B API Tracker, Reyes explains how the next wave of banking APIs could fight payments fraud and proactively alert middle-market treasurers to investment opportunities.

TRENDING RIGHT NOW