Lynk & CO plans to increase the subscription price of its 01 compact SUV by 10 percent in Europe for both new and existing customers, the company has said.
The increase to 550 euros ($582) a month from 500 euros for the brand’s sole plug-in hybrid model starts from this month for new customers, and from Sept. 1 for existing customers, the Geely-owned company said.
No reason was given for the price increase, but automakers globally have been hit by rising prices for raw materials, parts and logistics.
The increase for existing customers points to a potential downside of rolling subscription models, which in the case of Lynk & CO allows customers the flexibility to cancel with just a month’s notice, rather than a contract with a fixed cost for a defined period.
The price increase angered customers posting on a German web forum dedicated to the brand.
“You copied too much from the Netflix subscription model,” one posting as RalfK wrote.