Imagine getting access to a car of your choice for a monthly fee that covers everything. No worrying about maintenance or repairs. And no down payment required.
Following the lead of Netflix, companies such as Flexdrive are already offering vehicle subscription services in the U.S. and plan to enter Canada by the end of 2018.
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Ivey Professor Niraj Dawar says the model should appeal to younger consumers.
“You don't buy your music on CDs anymore, you subscribe to Spotify. You don't buy videotapes, you subscribe to Netflix," he says. “And a similar model is applicable to the auto industry; it's just that the auto industry has been a little slow to pick up on this.”
Dawar was interviewed on CBC’s The National and quoted in an article on CBC News, which also ran on YAHOO! Finance.
