Now Ford Motor Company (NYSE:F) Enters Services Segment With Car-Sharing Business


Dallas, Texas 06/26/2015 (Financialstrend) – Ford Motor Company (NYSE:F) has once again sought to establish its leadership in the auto business, with its own car-sharing business. Ford’s in-depth knowledge of automotive market dynamics has led to the company widening its scope of auto business, beyond its present car making domain. For several years now, it has been offering financial services, allowing buyers to buy Ford cars through its Ford Motor Credit services.

But the recent trends in auto industry have not been very promising. Hence, apart from financing cars Ford has taken the next step within this business vertical.

Car-sharing Business

Ford Motor Company (NYSE:F) has proposed pilot program in the over six cities in the US as well as the British Capital. This program will allow Ford to enter the emerging car-sharing business segment, with an edge.

Ford will ‘enable’ owners of Ford cars, financed through its in-house Ford Motor Credit services to rent their automotive. The rentals will only be for short-periods and shall be offered to clients who are pre-screened by the company. The vehicle categories that will come under this program are- cars, Trucks as well as SUVs.

Ford has been thrusting forward in entering new age segments of the automobile industry in recent months. Ford Motor Company (NYSE:F) has already announced an ambitious next-generation car platform development. It hopes to be one of the big companies which will be part of manufacturing autonomous cars, from within the traditional car-making community. Thus far, autonomous car-technology development has been the realm of technology companies such as Google Inc, Apple Inc, and lately Tesla Motors.

Therefore, it is very important for Ford Motor Company (NYSE:F) to remain relevant as a car maker for the millennial buyer segment. Car-sharing business is one of the several ways it can remain a dominant automotive company, even as it plays for time to develop its autonomous cars for the next generation.