Canvas (car company)
{{Short description|American vehicle subscription company}}
{{Infobox company
| name = Canvas
| logo = Canvas logo.jpg
| type = Subsidiary
| industry = Transportation
| fate = Acquired by Fair Technologies
| predecessor =
| successor =
| founded = December 2016
| founder =
| defunct = September 2019
| hq_location_city = San Francisco, California
| hq_location_country =
| area_served = San Francisco Bay Area, Los Angeles
| key_people = Ned Ryan (founder, CEO)
| services = Vehicle subscription of Ford and Lincoln cars
| owner =
| num_employees =
| num_employees_year =
| parent = Ford Motor Credit Company
| website = {{URL|drivecanvas.com}}
}}
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.{{Cite web |last=Lunden |first=Ingrid |date=2019-09-12 |title=Fair acquires Canvas from Ford to expand its on-demand vehicle subscription business |url=https://techcrunch.com/2019/09/12/fair-acquires-canvas-from-ford-to-expand-its-on-demand-vehicle-subscription-business/ |access-date=2023-01-08 |website=TechCrunch |language=en-US}} Canvas was directed at consumers seeking alternatives to car ownership and leasing or daily car rental.{{cite news |date=June 7, 2017 |title=Ford offering short-term consumer auto leases through Canvas |url=https://www.reuters.com/article/us-autos-fordcredit/ford-offering-short-term-consumer-auto-leases-through-canvas-idUSKBN18Y2VH |agency=Reuters }} 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.{{cite news |date=September 12, 2018 |title=Roadshow's guide to car subscriptions, an alternative to buying or leasing |url=https://www.cnet.com/roadshow/news/2018-new-car-subscription-service-guide-buying-leasing/ |agency=CNET}}
History
Canvas was founded in December 2016 under founder and CEO Ned Ryan as a subsidiary of the Ford Motor Credit Company.{{cite news |date=September 13, 2018 |title=Automakers test subscriptions to attract new consumers |url=https://www.detroitnews.com/story/business/autos/ford/2018/09/13/automakers-test-subscriptions-attract-new-consumers/1018298002/ |work=The Detroit News }} The company launched operations in May 2017 in the San Francisco Bay Area.{{cite web |url=https://media.ford.com/content/fordmedia/fna/us/en/news/2018/02/08/subscription-vehicle-service-canvas-celebrates-growth--looks-for.html |title=Subscription Vehicle Service Canvas Celebrates Growth, Looks for Continued Expansion in 2018 |date=February 8, 2018 |publisher=Ford Media Center }} In November 2017, Canvas expanded to the Los Angeles market.{{cite news |date=November 1, 2017 |title=Ford's Canvas monthly car subscription car service expands to LA |url=https://techcrunch.com/2017/11/01/fords-canvas-monthly-car-subscription-car-service-expands-to-la/ |agency=TechCrunch }}
Operation
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.{{cite news |date=September 4, 2018 |title=Cars are cruising down the monthly subscription highway |url=https://www.apnews.com/87188db63e7f418b8350fa596111cddc |agency=AP }}{{cite news |date=September 4, 2018 |title=You Subscribe To Netflix And Spotify — Why Not GM And Ford? |url=https://www.investors.com/news/car-subscription-services-automotive-industry/ |work=Investor's Business Daily }} The bundled monthly subscription included insurance, warranty, maintenance and roadside assistance.