There might not be a limit to everything human beings can do, and yet there is little we do better than growing under all possible circumstances. This tendency, in particular, has already fetched us some huge milestones, with technology appearing as rather unique member of the stated group. The main reason why technology’s credentials are so anomalous is based on its skill-set, which was unprecedented enough to guide us towards a reality that nobody could have ever imagined otherwise. Nevertheless, if we look a little bit deeper, it should become clear how the whole runner was also very much inspired by the way we applied those skills across a real-world environment. The latter component was, in fact, what gave the creation a spectrum-wide presence, and consequentially, kickstarted a tech revolution. This revolution, as we discovered, will go on to scale up the human experience from every conceivable direction, but even after achieving such a monumental feat, technology will somehow continue to bring all the right goods to the table. The same has turned more and more evident in recent times, and assuming Kyte’s latest decision shakes out just like how it is envisioned, the whole runner can only be expected to grow bigger and better moving forward.
After concluding a successful pilot program, Kyte, a car rental delivery startup based in San Francisco, has officially launched a new car subscription service. According to certain reports, the stated service will be available through three different plans, with the base plan offering three months of duration, the medium plan offering six months of duration, and the top plan offering twelve months of duration. Talk about the markets in which the new service will operate, it is expected to be accessible, at least for the initial phase, across cities like San Francisco, Chicago, New York City, Boston, and others. Now, pivoting towards the vehicles in Kyte’s subscription fleet, the line-up is likely to include Tesla Model 3s, Kia Forte, Toyota Camry, Jeep Compass, and plenty other cars. But is a car subscription model even feasible? According to Kelley Blue Book, it very well might be the case, considering an uptick in interest rates and monthly installments is now making more and more Americans rethink their intention of buying out a vehicle.
When quizzed regarding the new service, Erik Zahnlecker, Kyte’s director of new products, echoed the same dynamic.
“Coming out of the pandemic, the way we live, work, play and travel has significantly changed. More than ever, ‘digital nomads’ are emerging, and Americans are looking for flexible options that match their new lifestyles,” Zahnlecker said. “Car leasing or ownership comes with hassles and commitments (like depreciation, lock-in, maintenance and more) that may not suit a consumer’s desired next move. At Kyte, we’re committed to creating options for anyone looking for a ride longer than a ride-share.”
Interestingly, the move from Kyte comes just a few days after it raised $60 million in Series B financing, and a few months after it got $200 million in debt financing from Goldman Sachs and Ares Global Management.