Ford Motor Credit Co.’s shared-lease pilot program in Austin, Texas, has closed, CEO Joy Falotico told Automotive News. She said the captive will apply what it has learned from the pilot as it develops more experiments tailored to the so-called sharing economy.
In March, Ford Credit launched Ford Credit Link, a pilot lease-sharing program that allowed three to six customers to share a lease, scheduling their driving time and dividing payments any way they liked. Ford Credit piloted the program at three Austin dealerships: Leif Johnson Ford, Maxwell Ford and Covert Ford.
In June, spokeswoman Margaret Mellott said there was a “good flow” of traffic to Ford Credit Link’s website, but no customers had signed up. That month, Ford Credit launched digital billboards in the area to increase awareness.