Recently, there has been an interesting phenomenon—leading automakers are shifting from a buyout model to a subscription model for autonomous driving. On the surface, it appears to be a marketing adjustment, but the underlying business logic is worth pondering.

The previous buyout model, where users paid a one-time fee of $8,000, was satisfying for consumers but essentially a one-time transaction for automakers. Switching to a monthly subscription changes the situation entirely. It’s similar to upgrading from selling software licenses to a SaaS model—once the user base grows and renewal rates stabilize, revenue streams become much more predictable, and profit margins resemble those of a software company rather than a manufacturing business.

This also helps tell a story for valuation. Subscription models are naturally more attractive to capital markets because they imply ongoing, repeatable revenue expectations.

From a product operation perspective, subscriptions give automakers more control. Pricing, feature modules, release schedules—all are in their hands. They can dynamically adjust based on iteration progress, tightly bind users within the ecosystem, and charge continuously. To some extent, the power of users’ renewal decisions is gradually shifting to the automakers.

Will this shift become a new trend across the entire mobility industry? It still depends on market acceptance.