Ford Jumps Into Car-share Business

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In a sign automakers are increasingly aware they'll have to try new approaches to reach customers, Ford is launching a car-share program.

The pilot program will be in six U.S. cities and in London. Customers who finance their vehicle through Ford Motor Credit will be able to rent out their car, SUV or truck.

"We are seeing a lot of folks that don't want to own a vehicle, and we as a company want to make sure we are listening to customers and see if we can help in that regard," CEO Mark Fields said. "Customers, particularly in urban areas want access versus ownership."

The program is being run by Getaround, a San Francisco-based start-up that will oversee the car-share app customers will use to rent vehicles.

Initially, the program will include 14,000 Ford Motor Credit customers in the U.S. and 12,000 in Britain. The U.K. car share program will be run by the easyCar Club.

"My great-grandfather helped put the world on wheels so everyone could enjoy the benefits of mobility," said Ford Executive Chairman Bill Ford. "Our vision today is to expand that same thinking using advanced technology and new business models."

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