Canvas Vehicle Subscription Service Seeing Promising Growth Less Than a Year From Launch
Canvas, a subscription-based vehicle service operated by the Ford Motor Credit Company, has grown its base to more than 600 customers between the San Francisco Bay and west Los Angeles regions just under a year since launch. In that brief time, Canvas customers have driven a combined 3 million miles, and the company sees more room for expansion ahead in 2018.
“Building on our success in 2017, we plan to further expand our platform and offerings in 2018 to meet even more customer needs,” said Canvas founder and CEO Ned Ryan. “Month-to-month subscriptions are just the first step. As our product evolves over the coming year and beyond, we’ll be focused on adding more customization to the platform, implementing solutions to improve the scalability of the business and offering bigger savings for customers who want longer terms.”
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Canvas acts as an alternative to traditional vehicle leasing or ownership by allowing customers to pay a monthly subscription fee—starting at $400—that bundles necessaries including insurance, warranty, maintenance, and roadside assistance. Vehicle choices and mileage packages vary, and with seven days’ notice, all Canvas vehicles can be picked up at a location convenient for the driver.
“As car ownership evolves, we see Canvas as part of our suite of products that address changing customer needs in mobility,” said Ford Credit Executive Vice President of Marketing David McClelland. “Canvas is building subscription products that are relevant to consumers today, and it’s building technology for the future, including billing and fleet management, with a nimble approach to product development.”
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