Cadillac's Subscription-Based Luxury Rental Service
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](https://cheddar.com/videos/tara-brannigan-explains-how-cadillacs-car-sharing-service-works).
Apple CEO Tim Cook said Thursday that the majority of iPhones sold in the U.S. in the current fiscal quarter will be sourced from India, while iPads and other devices will come from Vietnam as the company works to avoid the impact of President Trump’s tariffs on its business. Apple’s earnings for the first three months of the year topped Wall Street’s expectations thanks to high demand for its iPhones, and the company said tariffs had a limited effect on the fiscal second quarter’s results. Cook added that for the current quarter, assuming things don’t change, Apple expects to see $900 million added to its costs as a result of the tariffs.
