Redcap Tour Expands Mobility Subscription Service to Busan

[Asia Economy Reporter Park So-yeon] Redcap Tour is joining hands with Hyundai Motor Group to actively expand its vehicle subscription service.

On the 21st, Redcap Tour announced that it has signed a business partnership with Hyundai Motor Company and Hyundai Capital to launch the mobility subscription platform 'Hyundai Selection' service in the Busan region.

Following its entry into the vehicle subscription service market last year with Genesis Spectrum, Redcap Tour is expanding its scope to Hyundai Selection, providing services for all Hyundai subscription vehicles.

Similar to the 'Genesis Spectrum' service, Redcap Tour signs contracts with subscription members and provides vehicles while managing vehicle maintenance and customer service. Hyundai Motor supports vehicle supply, program development, and operation, and Hyundai Capital is responsible for overall service operations.

Redcap Tour, the first partner of Hyundai Motor for the monthly subscription product (Regular Pack) of 'Hyundai Selection,' plans to expand the service area from Busan to other regions such as the metropolitan area and Jeju.

Customers who want to use 'Hyundai Selection' in Busan can make advance reservations through the app, and Redcap Tour plans to deliver vehicles sequentially to customers according to the order of delivery starting from the end of June.

Customers who choose the monthly subscription product (Regular Pack) can use vehicles such as ▲Grandeur ▲Palisade ▲Santa Fe ▲Sonata ▲Tucson ▲Avante ▲Venue every month, while short-term subscription product (Special Pack) customers can use vehicles such as ▲Veloster N, Sonata N Line, Ioniq 5, and Staria. Three additional models?Avante N, Kona N, and Tucson N Line?will be added in the second half of this year.

In particular, Hyundai Motor plans to introduce the first 'inter-regional subscription roaming' service in the domestic automobile industry between the metropolitan area and Busan in July. Monthly subscription product (Regular Pack) customers with Standard level or higher will be able to use the short-term subscription product (Special Pack) free of charge when visiting other regions.

For example, a customer subscribing to a Grandeur in Seoul can use a Staria free of charge for 3 nights and 4 days during a trip to Busan, and a customer subscribing to a Sonata monthly in Busan can use a Nexo free of charge for 3 nights and 4 days during a business trip to Seoul.

Launched officially in June 2020, 'Hyundai Selection' has surpassed 10,000 registered members and has maintained a 97% subscription rate even during the COVID-19 situation, establishing itself as the leading automobile subscription platform with the largest number of members in Korea.

The subscription fee for 'Hyundai Selection' includes vehicle maintenance costs as well as incidental expenses such as insurance premiums and automobile taxes, reducing the hassle for drivers who otherwise have to manage these costs separately.

Additionally, all vehicles can be used without mileage limits, and cancellation is free after use, allowing customers to use the service at a reasonable cost tailored to their required period.

Meanwhile, Redcap Tour, which has a stable financial structure and high service standards, has been recognized as the optimal partner for Hyundai Motor's subscription service and has been responsible for the official service of 'Genesis Spectrum' since October last year.

Since entering the rental car market in 1997, Redcap Tour has focused on B2B long-term rental services under the brand 'Redcap Rent-a-Car' and provides customers with the best maintenance and service infrastructure through a nationwide network.

In-yu Sung, CEO of Redcap Tour, stated, “With the opening of this service, we have strengthened our partnership with Hyundai Motor and laid the foundation for expanding the rental car business volume. Subscription services enable stable revenue generation through securing loyal customers. We will do our best to provide a satisfying customer experience.”

This content was produced with the assistance of AI translation services.