General Motors to Shut Down Cadillac Subscription Service by Yearend

General Motors Co. is reportedly hitting the pause button on its vehicle-subscription service, Book by Cadillac after launching nearly two years ago in Los Angeles, Dallas, and New York. A GM spokesman confirmed the OEM plans to shut down the service by yearend, the Wall Street Journal reported. However, there is still a chance that […]

Clutch Expands Porsche Subscription Program to Include Hourly, Weekly Rentals                                   

Following its acquisition of fleet-management company Clutch Technologies, Cox Automotive is broadening its program with Porsche to include hourly and weekly rental rates. The expansion provides insights into the philosophy of Cox’s Mobility Solutions unit as OEMs and dealerships embrace subscription programs, President Vince Zappa told Auto Finance News. “When you start to think of […]

Subscription Service Revolve Carves Out Niche in Luxury Space

Asoka Veeravagu, chief executive of the Florida- based luxury car subscription platform Revolve, envisions a future with many competitors in the car subscription space, not just one solution that dominates the market, he told Auto Finance News. “When you look at the size of the industry — in the U.S. new and used annual [financing] […]

100K Users Expected to Join Car Subscriptions by Yearend

Car subscription programs — which allow for an alternative “third wave of ownership” that differs from traditional financing and leasing — are expected to support 100,000 to 150,000 cars in service by yearend through various OEM pilot programs, said Kimberly Henderson, assistant vice president of strategy for the marketing agency Ansira. The agency works with […]

Volvo Subscription Service Limits Vehicle Choice, Lengthens Term to Keep Prices Down

Volvo Financial Services’ subscription model Care By Volvo undercuts other luxury OEM programs on the market with a subscription that’s less flexible but more affordable to a younger audience, said Peter Wexler, Volvo Cars USA’s director of mobility. Where similar programs such as Book By Cadillac and Porsche Passport start at $1,800 and $2,000 a […]
  • William Hoffman
  • February 2, 2018
  • Strategy