Ford Sells Vehicle Subscription Service Canvas
Ford Motor Co. is selling off its vehicle subscription service, ending a two-year experiment that aimed to bridge a gap between renting and leasing.
Ford's finance arm, Ford Motor Credit Co., plans to sell Canvas to a California-based car-rental app, Fair. Ford acquired Canvas in 2016, and spent much of 2017 and 2018 testing the service in different markets. The automaker did not disclose a sale price Thursday.
"Canvas built an impressive business and we learned a lot about subscription services, fleet management and the technology that underlies both," said Sam Smith, executive vice president of strategy and future products at Ford Credit, in a statement.
Read the article at The Detroit News.
Electric Truck Unicorn Rivian, Backed By Amazon And Ford, Lands $350 Million Investment From Cox
Rivian, an innovative truck startup planning to produce all-electric pickups and SUVs that’s backed by Ford Motor Co. and Amazon, said Cox Automotive is investing $350 million and may partner with it on future business operations.
Michigan-based Rivian plans to launch a line of long-range, rechargeable light trucks, including the R1T pickup and R1S SUV, built off a highly functional “skateboard” platform that integrates the battery pack, drive components and suspension system.
“We are building a Rivian ownership experience that matches the care and consideration that go into our vehicles,” 36-year-old founder and CEO RJ Scaringe said in a statement. “Cox Automotive’s global footprint, service and logistics capabilities and retail technology platform make them a great partner for us.”
Read the article at Forbes.
Calling All AFLA Volunteers for 2019-2020 Task Forces!
AFLA is driven by its members. Sometimes it’s through running for a board seat, sometimes it’s by handing out name badges at the conference and sometimes it’s by serving on the various task forces that move us forward as an organization.
If you’re an AFLA member, now is the time of year for serving on the task forces that keep our organization ticking.
Serving on a task force is a great way to network with colleagues in the industry, brush up your leadership skills and to give back to the corporate fleet community, and most of AFLA’s task forces require a commitment of 2-5 hours each month for the year (the new task force year begins in October).
The Continuing Battle: SUV vs. Sedan, Detroit vs. Foreign
S.U.V.s and pickups generate higher per-vehicle profits than cars, and are grabbing a record 70 percent of the American market.
The sales of midsize sedans have nose-dived.
Detroit’s Asian and European rivals continue to invest in smaller cars, hedging against changing consumer tastes or soaring fuel prices. Even in worst-case scenarios for the economy or fuel crises, Ford believes that most consumers will simply downsize to a smaller or more affordable S.U.V. rather than go back to cars.
Fiat Chrysler now relies on pickups and S.U.V.s for roughly 90 percent of its United States sales. Light trucks account for 84 percent of G.M.’s American sales and 83 percent at Ford, record highs for both companies.
Read the article at The New York Times.
Driving Dynamics 2019 Summer-Fall DriveReady Schedule is Here!
This foundational behind-the-wheel driver safety course, held each year at more than 200 locations across North America, is designed for drivers of passenger cars through medium-duty vehicles.
Highlights include: 30+ Years Experience in Fleet Driver Safety; The One Second Advantage Philosophy; Full-Time Professional Instructors; Low Instructor-to-Student Ratio; Sophisticated Adult Instructional Design; Mobile Classrooms Onsite with Driving Exercises; Patented Controlled Slide Car; Offered as an Employer-Dedicated Course
