Ford Launching Vehicle Subscription Service

The automotive industry is changing as people need and want to use their vehicles differently. Ford is working on a vehicle subscription service call Canvas to stay flexible in the market. The Silicon Valley tech firm was bought out by the Detroit Automaker not too long ago, according to a report from Reuters. This comes after Cadillac launched its own subscription vehicle service.

Technically, Canvas is owned by Ford Motor Credit Co. It will cater to people who don’t want the expense of a rental car, but can’t or don’t want to get a lease. Millennials have shrugged car loans and other financial commitments their parents and others have sworn by, making these kinds of adjustments necessary.

Users pay a monthly fee for the subscription service. It bundles together maintenance, roadside assistance, insurance, and other expenses. It should be a far more affordable than the Cadillac service, so the two wouldn’t be competitors.

Canvas so far is only offering its services to people in the Bay area. The plan is to expand into other major cities in the United States, and go from there. Don’t think it will kill traditional car ownership, like some people keep trying to spin alternative vehicle services. But it does show that for some, having a more flexible vehicle situation is important.