Kyte, which offers cars-on-demand for daily, weekly or monthly use, announced the launch of a new subscription service for extended vehicle access. Building on the success of its Tesla program, the new product will be available for economy, sedan and SUV fleets across Kyte’s 14 U.S. markets. This service follows the company’s recent announcement of $60M Series B growth equity financing and its expansion into Ft. Lauderdale in September.
Kyte said its new offering is an important step toward building a model beyond short-term mobility solutions. Kyte’s subscription service offers convenient and flexible vehicle access while bypassing the hassle and commitment of traditional car ownership. Each of the three-, six-, or 12-month plans include registration, maintenance, roadside assistance, and front-door delivery and pick-up. Monthly pricing begins at $519, according to the announcement.
“Our mission is to unlock the freedom to go places, and including subscriptions for all four vehicle classes ensures a solution that fits everyone,” said Erik Zahnlecker, director of new products. “Similar to what Lyft and Uber have done for rideshare, we aim to completely disrupt the transportation space and make people think twice when looking to buy a car. Our customer-first, car-on-demand access is unmatched and we have yet to see competition who comes close to delivering on this promise.”
Kyte believes another benefit to the service is that it alleviates the concerns of rising interest rates that significantly affect standard car leases and dealer financing.