LONDON — Jaguar Land Rover’s first commercial offering from its new InMotion Ventures mobility arm will be a subscription lease service.
The service, called Carpe, will be trialed in JLR’s UK home market before a possible expansion to other markets at a later date, the automaker said in a statement.
Prices start at 1,134 pounds ($1,522) a month for Jaguar E-Pace compact SUV including local taxes and rise to 2,244 pounds for a Range Rover Sport.
JLR launched Carpe in the UK after an initial trial running from January to May this year.
“It proved that there was a demand for this flexible short leasing,” a company spokeswoman said. The next phase will be to expand the packages available. “After that we can potential look further afield,” the spokeswoman said. JLR offers all its range on subscription including the Jaguar F-type and the newly launched I-Pace full-electric car.
JLR follows other premium automakers including Mercedes-Benz, BMW, Porsche and Volvo in rolling out all-inclusive lease services for a monthly fee.
JLR’s Carpe contracts run for 12 months with an unlimited mileage allowance and don’’t require a deposit.
“We know there is an appetite for unlimited motoring packages and demand is growing rapidly for subscription services that better meet individual needs,” said Sebastian Peck, managing director for InMotion Ventures.
Carpe, named for the Latin word for seize, could offer other car brands in the future if the trial is a success, the spokeswoman said.
JLR’s InMotion enterprise is also responsible for venture capital style investments into mobility services and other start-up companies.
Last year InMotion invested $25 million in ride hail-service Lyft and SPLT, a Detroit-based digital carpool business. In total it made 11 investments last year, including outdoor mapping service FatMap and travel-angled blockchain start-up Dovu.