Canvas (car company)
 | |
| Company type | Subsidiary |
|---|---|
| Industry | Transportation |
| Founded | December 2016 |
| Headquarters | |
Area served | San Francisco Bay Area, Los Angeles |
Key people | Ned Ryan (founder, CEO) |
| Services | Vehicle subscription of Ford and Lincoln cars |
| Parent | Ford Motor Credit Company |
| Website | drivecanvas |
Canvas is a vehicle subscription company based in San Francisco, California for Ford and Lincoln cars. The company is a subsidiary of the Ford Motor Credit Company. Canvas is directed at consumers seeking alternatives to car ownership and leasing or daily car rental.[1] For a subscription term of three months to a year or longer, the service provides the use of a car bundled with insurance and maintenance coverage.[2]
History
Canvas was founded in December 2016 under founder and CEO Ned Ryan as a subsidiary of the Ford Motor Credit Company.[3] The company launched operations in May 2017 in the San Francisco Bay Area.[4] In November 2017, Canvas expanded to the Los Angeles market.[5]
Operation
Canvas offers previously-leased Ford and Lincoln models for 3 to 12 month subscriptions. As of September 2018, subscription costs ranged from $379 per month for a Ford subcompact to $1,125 per month for a Lincoln luxury SUV.[6][7] The bundled monthly subscription includes insurance, warranty, maintenance and roadside assistance.[4]
References
- ^ "Ford offering short-term consumer auto leases through Canvas". Reuters. June 7, 2017.
- ^ "Roadshow's guide to car subscriptions, an alternative to buying or leasing". CNET. September 12, 2018.
- ^ "Automakers test subscriptions to attract new consumers". The Detroit News. September 13, 2018.
- ^ a b "Subscription Vehicle Service Canvas Celebrates Growth, Looks for Continued Expansion in 2018". Ford Media Center. February 8, 2018.
- ^ "Ford's Canvas monthly car subscription car service expands to LA". TechCrunch. November 1, 2017.
- ^ "Cars are cruising down the monthly subscription highway". AP. September 4, 2018.
- ^ "You Subscribe To Netflix And Spotify — Why Not GM And Ford?". Investor's Business Daily. September 4, 2018.