Just a short time ago, vehicle subscription services were hailed as the second coming, permitting drivers the freedom to select from a range of vehicles for a single monthly payment. Proponents touted it as a way for manufacturers to display their wares and for buyers to sample a wide array of cars. Opponents said OEMs could potentially lose money by having all these used cars on hand.
It would seem the latter is beginning to prevail with a cadre of companies getting out of the subscription game faster than an aging athlete getting traded to another team. Fair, the $1.2 billion startup company backed by SoftBank, just picked up Canvas from the Ford Motor Company.
Chariot, Ford’s app-based shuttle service, has announced it will throw in the towel due to the rapidly changing “mobility landscape” of major cities. When the company launched in 2014 with Jim Hackett at the helm, it joined a bundle of “microtransit” firms hoping to undercut brands like Uber while providing a viable alternative to public transportation.
Ford acquired the company in March of 2016 for a reported $65 million, proving that not every mobility firm can be a golden goose. It snagged Hackett and made him Ford CEO roughly a year later, where he continued to oversee Chariot as chairman of the automaker’s Smart Mobility subsidiary. Unfortunately, the service is no longer deemed sustainable.
On the upside of things, this ought to put a few coins in the jar labeled “Restructuring Program” at Ford’s Dearborn headquarters.
Unless there’s a super-rare find that requires immediate action or it’s half-price day, I usually avoid hitting Denver junkyards when it’s snowing and/or below freezing out. Thanks to the magic of high altitude, it feels more like December than late April here… but checking the online inventory at my local self-service yard revealed a potential engine-donor for my ’41 Plymouth project. Disregard the snow, pack up the tools!
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- Fred I owned a 2001 MR2 for 15 years nothing ever went wrong with the vehicle. It was always exciting to drive most people thought it was a boxster. The only negative was storage and legroom considering I'm a little over 6:4 the only reason it was sold was as a second car and a grandchild on the way we needed something more practical.
- V16 I'm sure most people could find 155,365 reasons to choose another luxury brand SUV and pocket the difference.
- ChristianWimmer I don’t want this autonomous driving garbage technology in any car.My main fear is this. Once this technology is perfected, freedom-hating eco hysterical governments (crap hole Germany, UK and the European Union in general) will attempt to ban private car ownership because “you don’t need to own a car anymore since the car can come to you, drop you off and then proceed to service the next customer”... no thanks. Having your own car is FREEDOM.Go away, autonomous driving. I also enjoy the act of driving a car. I want to drive, not be driven.
- Mike-NB2 The solution is obvious here. Everyone should be raised in an Irish Catholic family and then all it takes is a sideways glance from mom and you're atoning for that sin for the rest of your life. My mother has been dead for decades and I still want to apologize to her. Catholic guilt is a real thing. 😁
- Wjtinfwb A good car. I don't find Accord's as appealing as they were a decade or two ago, not that they've gotten worse, but the competition has gotten better. It would be my choice if I had to pay for it myself and maintain it for 10 years and 150k miles. They'd be very reliable and no doubt inexpensive miles, but probably a pretty boring 10 years.