Back in the day, owning a car was part of the American Dream. But things are changing.
That’s according to one Cadillac exec who runs the luxury automaker’s subscription rental service.
“I do think that when you’re looking at Gen X, Gen Y...they’re looking for something a little bit different,” Tara Brannigan, head of marketing at BOOK by Cadillac, told Cheddar. “They’re enjoying the experience over ownership, and this is where BOOK by Cadillac may fulfill a need.”
The company may be trying to appeal to “experience economy”-minded millennials, but with the rise of ride-hailing apps such as Uber and Lyft, automakers are also trying to keep customers from abandoning their vehicles altogether.
BOOK by Cadillac launched in New York last January and has expanded to Dallas and Los Angeles. Members get access to a variety of high-end models and can keep the vehicles for up to a month, with an option to renew. They also get access to a concierge service to drop off and pick up the cars.
The privilege doesn’t come cheap though. Subscribers have to pay $1,800 a month for the service.
Companies like Volvo and Porsche offer similar programs.
For the full interview, click here.