Subscription service helps Porsche attract younger drivers

Porsche Passport, which provides subscribers with access to Porsche vehicles via a mobile app, is currently only available in Atlanta, home to Porsche’s North American operation, as well as Clutch Technologies, the company hosting the app.

The month-to-month subscription gives customers two price options: A flat fee of $2,000 or $3,000. The subscription includes a $500 activation fee and credit check, and covers vehicle tax and registration, insurance, unlimited mileage and maintenance. Smartphone users can download the app and begin using the same day or schedule future rides.

The program may be part of what’s giving the company a boost in an otherwise grim industry. While U.S. new vehicle sales fell 2 percent in 2017, Porsche’s sales in the U.S. had its eighth consecutive year of growth. The company’s overall value increased nearly 42 percent, as market cap shot up to $24.457 billion this month, compared with $17.26 billion last March.

Zellmer said the growth can be attributed to many things, including tax reform and modern lifestyle habits.

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