As the cost of living continues to rise, many people realize that owing a vehicle might not be a possibility for them. A lot of millennials have also realized that their vehicles aren’t used often enough in order to justify the cost of owning one. Looking to combat that expense and make co-owing a vehicle possible, Ford has come up with a Ride Share Program.
Customers who sign up for Ford Credit Finance are allowed to share their vehicles with others, who have been prescreened, which will help to offset the monthly costs. Dave McClelland, Ford Credit VP of Marketing says""[c]onsumers tell us they are interested in sharing the costs of vehicle ownership, and this program will help us understand how much that extends to customers who are financing a Ford vehicle."
Ford is currently testing this program in six US cities, as well as in London, England. In order to make this ride share program more widely accessible, they teamed up with rental systems Getaround and easyCar. Ford realized that many consumers want to save both money, and the environment, and sharing a vehicle with other people allows you to do both at the same time.
Innovative Ride Share Programs
Ford Makes Co-Owning a Vehicle Possible
Trend Themes
1. Vehicle Co-ownership - The rise of ride share programs like Ford's presents opportunities for disruptive innovation in the co-ownership of vehicles.
2. Sharing Economy - The Ford Ride Share Program is indicative of the growing trend towards sharing economy, opening up possibilities for disruptive innovations in various industries.
3. Sustainable Transportation - The integration of ride share programs with environmental considerations showcases the trend towards sustainable transportation, creating opportunities for disruptive innovations in the industry.
Industry Implications
1. Automotive Industry - The Ford Ride Share Program presents disruptive innovation opportunities for automakers in creating new models and systems to support vehicle co-ownership.
2. Transportation Industry - The rise of ride share programs has the potential to disrupt the transportation industry, leading to innovative approaches in fleet management and customer service.
3. Technology Industry - The integration of ride share programs with rental systems like Getaround and easyCar highlights the potential for disruptive innovations in the technology industry, particularly in car-sharing platforms and software.