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Car subscription services: A slow, expensive start — but the potential is huge

Americans are used to paying for subscriptions — to magazines and cable television, for instance — but experience shows they'll cancel when the price of admission gets too high, or there are more tempting alternatives. Cord cutters ditched nearly 1.5 million pay-TV subscriptions in 2017, according to a survey by Leichtman Research Group. Cable TV started out cheap with basic offerings, and then got expensive. The auto industry's subscription offerings are new, but they're starting out costly, and not price-competitive with traditional leasing. The upside is that they take the hassle out of car ownership for busy people by letting the service take care of maintenance, insurance, licensing and taxes. And they give consumers choice, often allowing relatively painless switches between different cars in the automakers' lineup. Subscription services also point the way toward an ownership-free auto experience, and offer an easy transition to a potential world where ride- and car-sharing will be dominant. Subscriptions are here to stay, but consumers may take a while to "get" them. Lincoln's subscription service for lightly used 2015 to 2017 models, offered through the Ford-owned Canvas beginning this year, got off to a slow start. Many early subscribers canceled. Last month, Cadillac announced it would " temporarily pause" its $1,800-per-month Book subscription service for "adjustments" as of December 1. According to the Wall Street Journal, "Snags with the back-end technology used to support the service made some customer-service functions tedious and time-consuming, adding costs for the company." The challenge for automakers is to come up with a strategy that offers consumers a compelling, affordable option to regular ownership, and one that can also make a profit. I think they'll find that sweet spot, but they're not there yet. Jack Nerad, former executive editorial director at Kelley Blue Book and author of " The Complete Idiot's Guide to Buying or Leasing a Car," points out that "A lot of people expected that subscriptions would be very valuable for people who wanted inexpensive transportation, but the reality is quite the opposite. Subscriptions are offering more choices for the wealthy.

2023 Mercedes-Maybach S 680 by Virgil Abloh is maximum fashion with a V12

If the Mercedes-Maybach S 680 wasn’t already exclusive enough for you, listen up. This is the limited-edition Maybach by Virgil Abloh version of the Mercedes-Maybach S 680, and there will only be 150 of them built for the world. The vehicle is the result of a collaboration between Virgil Abloh and Mercedes chief designer Gordon Wagener. Mercedes says the design was finalized prior to AblohÂ’s passing in November 2021. In case youÂ’re unfamiliar with Abloh, know that he was many things throughout his life. HeÂ’s known best for being a fashion designer and entrepreneur, but he was also an artist, philanthropist and architect. As for the car itself, the exterior uses a two-tone paint combo that you might recall from the Project Maybach electric off-road coupe. The bottom half is meant to make you think of sand, while the top half contrasts that in a glossy Obsidian Black finish. The window frames lose their bright look and are painted black to make it as monolithic as possible from the side. Even the forged wheels are painted in the sandy hue. The same theme continues for the interior. ItÂ’s a black and tan two-tone throughout, and MercedesÂ’ Nappa Leather is used to cover surfaces. A unique Mercedes-Maybach and Virgil Abloh logo is inscribed on the center console to denote this carÂ’s special-edition status. YouÂ’ll see the same logo on rear cushions, headrests and door sills. Mercedes even went so far as to modify the infotainment system and its controls for this special edition. The “home” button gets a sandy Abloh theme, and so do the selectable apps on screen. TheyÂ’re decorated with fashion accessories, and theyÂ’re hopefully still as easy to depict and use as MercedesÂ’ standard MBUX icons. As for extras beyond the car itself, every one of these special-edition models comes with a wooden box emblazoned with the Mercedes-Maybach and Virgil Abloh logo. Inside the box, youÂ’ll find a 1:18 replica of the car, a carabiner hook and your two keys. YouÂ’re also going to get a car cover featuring the Virgil Abloh logo with the car, but this one doesnÂ’t fit in the box. If you really want to look the part next to your car, there is a whole line of clothing designed by Virgil Abloh that is launching today, too. It comprises clothing done in shades and hues similar to the car, so you can truly look the part hopping out of your Virgil Abloh Mercedes-Maybach.

Mercedes F1 boss Toto Wolff takes a stake in Aston Martin

LONDON — Mercedes Formula One boss Toto Wolff has taken a stake in British sportscar maker Aston Martin, whose executive chairman Lawrence Stroll runs the Racing Point F1 team, according to company filings. A Mercedes F1 spokesman said Wolff's move was purely an investment on the Austrian's part and would be diluted by a rights issue on Monday from 4.77% to less than 1%. "Fully diluted following the pending rights issue, this investment will represent a 0.95% stake in the company," he added. "It is a financial investment and Toto's partnership and executive role with Mercedes are unaffected by the transaction." Swiss billionaire Ernesto Bertarelli has also bought a 3.38% stake which will be similarly diluted. Wolff previously had a 16% shareholding in former champions Williams but sold that after he joined the Mercedes team, where he serves as principal and owns 30%. Canadian billionaire Stroll, whose son Lance drives for Racing Point alongside Mexican Sergio Perez, is close to Wolff. The Silverstone-based team — to be renamed Aston Martin next year — use Mercedes engines and gearboxes. Mercedes-Benz's parent Daimler also has a small stake in Aston Martin. "It's clear that Aston are now Mercedes' B team," the Daily Mail quoted one Formula One insider as saying. Wolff's future at Mercedes has been the subject of some media speculation, with the 48-year-old linked variously to senior management roles with Liberty Media-owned Formula One and at Aston Martin. His Aston Martin shares were bought from Yew Tree Overseas Limited, a vehicle controlled by Stroll who acquired a roughly 25% percent holding in Aston Martin with a consortium of investors. Mercedes have won the past six Formula One drivers' and constructors' titles but have six times world champion Lewis Hamilton out of contract at the end of the 2020 season, which has yet to start due to the COVID-19 pandemic. Hamilton, who has also been linked to Ferrari, had told reporters before the global crisis changed the sporting and financial landscape that his decision would depend on Wolff's plans. The Briton is now expected to stay at Mercedes, with a radical overhaul of Formula One's sporting and technical regulations postponed to 2022. Related Video: Motorsports Aston Martin Mercedes-Benz