Canvas, the Ford Motor Credit Company subsidiary offering month-to-month subscriptions to off-lease Ford and Lincoln vehicles, has seen significant milestones less than one year since getting its first customer in May 2017.
· Canvas now operates in two markets, San Francisco and Los Angeles.
· It has more than 600 customers.
· It offers Ford and Lincoln vehicles ranging from compact cars to sport utility vehicles and trucks.
· The Canvas fleet has been driven more than 3 million miles, which is equivalent to 120 trips around the equator.
Canvas customers have said they are satisfied and likely to recommend the company to others. In addition, many Canvas customers are new to the Ford brands, so they get to try out the company’s vehicles.
Customers pay a monthly subscription fee that includes a mileage package, insurance, warranty, maintenance and roadside assistance, starting at $400 a month depending on the vehicle and other options. They select a vehicle, mileage package and delivery location through the drivecanvas.com website and may return a vehicle with seven days’ notice for the Canvas team to pick it up.
“As car ownership evolves, we see Canvas as part of our suite of products that address changing customer needs,” said Ford Credit Executive Vice President of Marketing and Asia Pacific David McClelland. “Canvas is building subscription products that are relevant to consumers today and it is building technology for the future with a nimble approach to development.”
Since launch, Canvas has refined its experience to better meet customer needs and expanded from San Francisco to Los Angeles in California. Among customer enhancements is offering new options such as adding multiple drivers to an account and mileage packages that can be changed as often as the customer needs.
“We plan to expand our platform and offerings in 2018 to meet even more customer needs,” said Canvas founder and CEO Ned Ryan. “Month-to-month subscriptions are just the first step.” Canvas intends to further customize its platform, improve the scalability of the business and offer bigger savings to customers who want longer terms.