Canvas was a vehicle subscription company based in San Francisco, California for Ford and Lincoln cars. The company was a subsidiary of the Ford Motor Credit Company. Canvas was acquired by Fair, another vehicle subscription company, in September 2019.[1] Canvas was directed at consumers seeking alternatives to car ownership and leasing or daily car rental.[2] For a subscription term of three months to a year or longer, the service provided the use of a car bundled with insurance and maintenance coverage.[3]
 | |
| Company type | Subsidiary |
|---|---|
| Industry | Transportation |
| Founded | December 2016 |
| Defunct | September 2019 |
| Fate | Acquired by Fair Technologies |
| 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 |
History edit
Canvas was founded in December 2016 under founder and CEO Ned Ryan as a subsidiary of the Ford Motor Credit Company.[4] The company launched operations in May 2017 in the San Francisco Bay Area.[5] In November 2017, Canvas expanded to the Los Angeles market.[6]
Operation edit
Canvas offered 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.[7][8] The bundled monthly subscription included insurance, warranty, maintenance and roadside assistance.[5]
References edit
- ^ Lunden, Ingrid (2019-09-12). "Fair acquires Canvas from Ford to expand its on-demand vehicle subscription business". TechCrunch. Retrieved 2023-01-08.
- ^ "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.