Book by Cadillac Hits the Brake
Nearly two years after introducing Book by Cadillac – that’s now available in Los Angeles, Dallas and New York – General Motors will pause the car subscription service, which offers access to different Cadillac models for $1,800 a month, by the end of the year.
https://www.youtube.com/watch?v=U_zxg4SzvVM
Cadillac was among the first brands to offer a subscription plan. Since then brands like Porsche and Volvo have followed along to introduce similar plans that allow subscribers to drive different models for a monthly rate that includes maintenance and insurance (in the case of Book, insurance was managed by ESIS, a Chubb company).
“The hype surrounding subscriptions as the next big wave of car ownership has yet to materialize .” – Senior Analyst, Edmunds.com, Ivan Drury.