Lynk&Co’s monthly plan increases from 500 to 550 euros

The rising cost of raw materials and transportation continues to impact the automotive industry and, by ripple effect, consumers’ wallets.

As inflation in France surpasses the symbolic 5% mark for the first time since 1985 amid a bleak economic and geopolitical situation, bad news continues to pile up. While the base price of the Tesla Model 3 has already skyrocketed from 43,990 to 50,990 euros since the start of the year, Lynk&Co has just announced that the monthly rental fee for its flagship model, the 01, has immediately increased from 500 to 550 euros, which is essentially a 10% increase and 600 euros per year.

As a reminder, Lynk&Co is a brand of the Chinese giant Geely, owner of Polestar, Lotus, and Volvo. The plug-in hybrid model 01 is a derivative of the Volvo XC40 Recharge T5, sharing the entire technical platform. A specific body and a refreshed interior position it in a younger, more dynamic buyer segment.

A rental that can be canceled at any time

In addition to a purchase offer at 41,500 euros excluding bonus, nearly 8,000 euros less than its twin from Volvo, the car has been offered since summer 2021 as a monthly rental without commitment, no security deposit, cancellable at any time. For 500 euros/month, it was possible to rent a well-equipped Lynk & Co 01. Besides providing the vehicle, the package includes insurance, 1,250 km of usage per month, and maintenance in a concierge mode.

New rates effective from June 1st

The 60,000 European members claimed by the brand were therefore unpleasantly surprised to receive a message on Monday, May 30, informing them of the change in monthly rate effective June 1. The argument of rising raw material and transportation costs seems unavoidable, as vehicles are prepared in China before being shipped to the brand’s European markets: Germany, Belgium, France, Italy, Netherlands, and Sweden.

For members already owning their vehicle, the rate increase will only take effect from September 1, 2022. Time to digest the news or to consult competing offers before switching brands at maturity? After all, isn’t that the advantage of a no-commitment service so dear to Lynk&Co?

Read also: Fiat 500 electric: now available for rent without commitment