Mach-E and F-150 Lightning Will Be Offered by EV Subscription Service, Autonomy

[Golfer]

https://www.freep.com/story/money/c...ase-startup-subscription-company/10280112002/

General Motors and Ford Motor Co. are getting big orders for their electric vehicles from a California-based startup that offers drivers the option to buy a subscription to an EV instead of buying the EV itself.

The company, Autonomy, said Tuesday it placed an order for 23,000 EVs with 17 global automakers to expand its subscription fleet beyond Tesla, which is the only EV it offers. This new fleet order is valued at $1.2 billion.

While Tesla still got the lion's share of the new order — 8,300 vehicles valued at $443 million — GM and Ford came in near the top.

• GM: Order for 3,400 EVs valued at $138 million.
• Ford: Order for 1,800 EVs valued at $88 million.
• Volkswagen: Order for 2,200 EVs worth $107 million.
• Hyundai: Order for 1,640 EVs worth $74 million.
• Kia: Order for 1,500 EVs worth $69 million.
• Rivian: Order for 1,000 EVs worth $72 million.

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[vortix]

Average price is $48,888.88 per Ford EV, interesting.

 

[ridgebackpilot]

Average price is $48,888.88 per Ford EV, interesting.

Fleet pricing.

 

[vortix]

Fleet pricing.

Of course, very high volume. Interested to see which models/trims were purchased.

 

[ripperAZ]

https://www.freep.com/story/money/c...ase-startup-subscription-company/10280112002/

General Motors and Ford Motor Co. are getting big orders for their electric vehicles from a California-based startup that offers drivers the option to buy a subscription to an EV instead of buying the EV itself.

The company, Autonomy, said Tuesday it placed an order for 23,000 EVs with 17 global automakers to expand its subscription fleet beyond Tesla, which is the only EV it offers. This new fleet order is valued at $1.2 billion.

While Tesla still got the lion's share of the new order — 8,300 vehicles valued at $443 million — GM and Ford came in near the top.

• GM: Order for 3,400 EVs valued at $138 million.
• Ford: Order for 1,800 EVs valued at $88 million.
• Volkswagen: Order for 2,200 EVs worth $107 million.
• Hyundai: Order for 1,640 EVs worth $74 million.
• Kia: Order for 1,500 EVs worth $69 million.
• Rivian: Order for 1,000 EVs worth $72 million.

I used autonomy in January to try out a Tesla, Y for three months and after NOT owning it for three months and walking around and looking at it I determined that it was the ugliest vehicle ever created and gave it back. Sorry Walter Whites Pontiac Aztec. You are now a distant second place.

It’s a great service to perhaps try out a new electric vehicle for a few months which is what I did long-term if you have the capital, you’re better off, flexing your own money in my opinion

Jes sayin.

 

[Mach1E]

I used autonomy in January to try out a Tesla, Y for three months and after NOT owning it for three months and walking around and looking at it I determined that it was the ugliest vehicle ever created and gave it back. Sorry Walter Whites Pontiac Aztec. You are now a distant second place.

It’s a great service to perhaps try out a new electric vehicle for a few months which is what I did long-term if you have the capital, you’re better off, flexing your own money in my opinion

Jes sayin.

It’s an interesting business model. Basically seems like a “long term rental.” But would be a way to swap cars frequently.

The problem is that there is currently only 2 cars to swap (base model 3 and base model Y). Of course the article shows they’re expanding.

I’m assuming you get a brand new car and pick the color etc but not the options?

Model Y, cheapest down payment is $1000 then it’s $1350/mo. Most is $7900 down $690/mo.

So short term it’s like a rental. Long term it’s like a lease.

And for the last couple years it’s been a horrible deal because anyone who purchased instead would have cost them next to nothing because of huge resale values (but that’s not normal).

https://www.autonomy.com/tesla/model-y

 

[Jax_GT]

It’s an interesting business model. Basically seems like a “long term rental.” But would be a way to swap cars frequently.

The problem is that there is currently only 2 cars to swap (base model 3 and base model Y). Of course the article shows they’re expanding.

I’m assuming you get a brand new car and pick the color etc but not the options?

Model Y, cheapest down payment is $1000 then it’s $1350/mo. Most is $7900 down $690/mo.

So short term it’s like a rental. Long term it’s like a lease.

And for the last couple years it’s been a horrible deal because anyone who purchased instead would have cost them next to nothing because of huge resale values (but that’s not normal).

https://www.autonomy.com/tesla/model-y

I wouldn’t assume you get a new car every time. Doubt they’re letting people rent these for two or three months then going through the hassle to buy a new one and sell the old.

 

[Jimrpa]

As someone else said, this sounds like a long-term rental car. Hasn’t this concept been tried before?

 

[Mach1E]

I wouldn’t assume you get a new car every time. Doubt they’re letting people rent these for two or three months then going through the hassle to buy a new one and sell the old.

Why not? They make money each time.

They buy new cars in bulk at a discount. The minimum time period is 3 months. If you only do the 3 months, they make a few grand and sell the 3 mo old car and probably make a profit again.

But unless the person hates the car, why would they only do 3 months? And right now it’s not like you can get another new car right away.

This might work great for someone who orders a Mach E.

Sell your old car at high value now. Drive a model Y for 6-9 months and turn it in when your Mach E shows up.

 

[Jax_GT]

Why not? They make money each time.

They buy new cars in bulk at a discount. The minimum time period is 3 months. If you only do the 3 months, they make a few grand and sell the 3 mo old car and probably make a profit again.

But unless the person hates the car, why would they only do 3 months? And right now it’s not like you can get another new car right away.

This might work great for someone who orders a Mach E.

Sell your old car at high value now. Drive a model Y for 6-9 months and turn it in when your Mach E shows up.

They may be able to do that now, but I doubt that’s sustainable long term. Used car market will go back to normal at some point.

 

[phil]

Yes, an innovative subscription model for fixed assets.

That's why WeWork is worth a trillion dollars today...

 

[YouEeee]

I used autonomy in January to try out a Tesla, Y for three months and after NOT owning it for three months and walking around and looking at it I determined that it was the ugliest vehicle ever created and gave it back. Sorry Walter Whites Pontiac Aztec. You are now a distant second place.

It’s a great service to perhaps try out a new electric vehicle for a few months which is what I did long-term if you have the capital, you’re better off, flexing your own money in my opinion

Jes sayin.

for my stupid question about start fee , how is it works and what will happen when you return in 3 months , you lose it or they refund back ?

I never lease a car so

 

[Mach1E]

They may be able to do that now, but I doubt that’s sustainable long term. Used car market will go back to normal at some point.

Why not?

That’s the beauty of the car business, they just raise their prices until they make money.

Only way it’s unsustainable is if they don’t get subscribers or buyers at the profitability price.

Certainly things are “better than normal” now with all car dealers making record profits by a significant amount. But this could still work long term. Especially with EVs in California where demand outstrips supply and is likely to for many years.

 

[Mach1E]

Yes, an innovative subscription model for fixed assets.

That's why WeWork is worth a trillion dollars today...

Cars are a little more popular than shared workspace.

 

[Franchise]

for my stupid question about start fee , how is it works and what will happen when you return in 3 months , you lose it or they refund back ?

I never lease a car so

Autonomy terms are murky. It indicates it’s not refundable.

BOOK by Cadillac (which I believe is gone) Care by Volvo etc seem to keep the deposit and let you roll into new cars after a specific term.

I could be all wrong on this. Anyone confirm?

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