General Motors is canceling its $1,800 a month Cadillac car subscription service and is shutting down by the end of the year, reports The Wall Street Journal. The Book by Cadillac service debuted early last year and follows a similar subscription model to Rent The Runway, which allows customers to drive different Cadillac models each month for the $1,800 price tag.
Speaking to The Verge, Cadillac confirmed that the service was ending next month, but could make a comeback in the future. Its full statement is below:
Following nearly two years of service, Cadillac will temporarily pause the BOOK by Cadillac program effective December 1, 2018. BOOK by Cadillac launched as a pilot program, providing the brand with valuable insights and contributing to Cadillac’s ongoing commitment in identifying new and innovative luxury experiences for their customers. The brand will use these insights to make adjustments to the BOOK by Cadillac strategy moving forward. Additional details will be made available at a later date.
Any subscribers still using the service will have 30 days to turn in their cars after being notified of the shut down, anonymous sources told WSJ. The service is reportedly ending because it was too costly to deliver multiple cars to customers each month.