Cadillac expands monthly car subscription service to Dallas and Los Angeles
Cadillac (NYSE: GM) is expanding its subscription car service to Los Angeles and Dallas, the company said Monday. Cadillac launched the month-to-month subscription service, called BOOK, in New York City earlier in 2017. It is one of a growing number of all-inclusive subscription services launched by companies luring car buyers who want the benefits of owning a car without the hassles of buying, maintaining and selling them.Subscribers pay a one-time $500 initiation fee and a flat monthly fee of $1,800 to access a "curated selection of vehicles," including the CT-6 plug-in sedan, Cadillac's "V" performance sedans, and SUVs such as the Escalade, the company said. All of the vehicles are 2017 and 2018 Cadillac models with the brand's higher-end Platinum and Premium Luxury trims.The monthly fee includes registration, taxes, insurance and maintenance costs. Subscribers can exchange vehicles up to 18 times a year. They are, however, limited to driving 2,000 miles a month.Users manage their accounts and select vehicles through an app. A white-glove concierge service will drop off a chosen car to a specified location.Other car companies are creating their own subscription plans for customers who might not want to commit to a purchase or a long-term lease. For example, Volvo has the service Care , and also said it would offer its upcoming Polestar electric vehicles through a subscription service. Ford (NYSE: F) also recently expanded its Canvas service to Los Angeles, from its pilot market of San Francisco. Hyundai offers a $275-a-month subscription for its Ioniq electric car, but so far only in California.Porsche has a pilot subscription program for its vehicles in Atlanta, Georgia, where its North American offices are based. Companies that do not make cars are also getting into the market, though. Companies such as FlexDrive and Clutch make the software that individual dealerships need to set up subscriptions for their own fleets. Cadillac (NYSE: GM) is expanding its subscription car service to Los Angeles and Dallas, the company said Monday. Cadillac launched the month-to-month subscription service, called BOOK, in New York City earlier in 2017. It is one of a growing number of all-inclusive subscription services launched by companies luring car buyers who want the benefits of owning a car without the hassles of buying, maintaining and selling them. Subscribers pay a one-time $500 initiation fee and a flat monthly fee of $1,800 to access a "curated selection of vehicles," including the CT-6 plug-in sedan, Cadillac's "V" performance sedans, and SUVs such as the Escalade, the company said. All of the vehicles are 2017 and 2018 Cadillac models with the brand's higher-end Platinum and Premium Luxury trims. The monthly fee includes registration, taxes, insurance and maintenance costs. Subscribers can exchange vehicles up to 18 times a year. They are, however, limited to driving 2,000 miles a month. Users manage their accounts and select vehicles through an app. A white-glove concierge service will drop off a chosen car to a specified location. Other car companies are creating their own subscription plans for customers who might not want to commit to a purchase or a long-term lease. For example, Volvo has the service Care , and also said it would offer its upcoming Polestar electric vehicles through a subscription service. Ford (NYSE: F) also recently expanded its Canvas service to Los Angeles, from its pilot market of San Francisco. Hyundai offers a $275-a-month subscription for its Ioniq electric car, but so far only in California. Porsche has a pilot subscription program for its vehicles in Atlanta, Georgia, where its North American offices are based. Companies that do not make cars are also getting into the market, though. Companies such as FlexDrive and Clutch make the software that individual dealerships need to set up subscriptions for their own fleets.
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