Ford Motor Company (NYSE:F)’s Car Sharing Program Is Win-Win


Dallas, Texas 06/24/2015 (Financialstrend) – Ford Motor Company (NYSE:F) is launching car-share program. The company is driving its pilot program in six U.S cities including London & England. As per the Program the customers who finance Ford’s Vehicle through Ford Motor Credit (FMC) will get the opportunity to rent out their Car, SUV, or truck.

As per Mark Fields, Ford Motor Company (NYSE:F)’s CEO many customers especially in urban localities prefer access versus ownership and nobody want to own the vehicle. Hence car-share program will help the company to listen as well as reach customers. The Program may also attract new customers as well.

In the U.S cities the Program is being launched by get around, starting from San Francisco wherein they will look in to the car-share app that will be used by the customers to rent the vehicles whereas in Great Britain the program will be carried out through easyCar club. In the beginning 14,000 U.S customers will be allowed in the Ford Motor credit customers (FMC) and another 12,000 customers from Great Britain.

Society has been facing many problems on congestion and depending on the growing demand for mobility services by Uber and lyft the company has taken the decision of car share and many people who are in car share businesses like Zipcar think twice if they really want to own a vehicle or not.

According to the study conducted by Alixpartners 4.9 million people are into car share business worldwide and the number will be increased to 26 million by 2020. To conclude we can say FORD’s decision of getting into car share business is good. Through the program it can have a different approach to business as well as it will be exposing the vehicles to its potential customers. Consumers will be happy to opt Ford Motor Company (NYSE:F) vehicles once they are available on rent. The company will also help Customers to cut their monthly vehicle cost by renting out their vehicle when it is not in use.