After successful launches in Gurgaon and Bangalore, Maruti Subscription and Leasing options have arrived in Pune and Hyderabad
Automakers in India had been experiencing slowdown in sales from way prior to the pandemic striking the country. Lower sales were noted even before the festive season of 2019. The slowdown was followed by complete shutdown in March 2020 when COVID-19 struck and April sales were down to zero units as all plants and company showrooms downed shutters.
The months of May and June continued to see sales at all time low levels and while numbers are slowly increasing, they are nowhere even near pre lock-down levels. Innovative plans are being introduced to boost ownership while ensuring lower financial burden. This has made manufacturers turn tocar leasing servicein India.
Hyundai Motors launched its leasing service last year in six cities across India. The company had entered into an alliance with Revv. In a tie up with Myles Automotive Technologies MG Motors also offers car subscription to its customers while VW India introduced the car lease program in May 2020 with lease period ranging from 2-3 years.
Maruti Suzuki Car Subscription Program
Maruti Suzuki started offering subscription services from July 2020. At that time, it was only launched in Bangalore and Gurgaon. Today, they have expanded to Pune and Hyderabad. Maruti subscription services are in association with Myles Automotive Technologies.
Customers can select models such as the Swift, Dzire, Vitara Brezza and Ertiga which are sold via the Maruti Suzuki ARENA dealerships or the Baleno, Ciaz and XL6, which are retailed through NEXA outlets. The period of lease ranges from 12, 18, 24, 30, 36, 42 and 48 months.
Car Subscription Program from Rs.17,600
The Maruti Suzuki all inclusive monthly subscription plan starts at Rs.17,600 for Swift Lxi variant in Pune going up to Rs.18,350 for the same model in Hyderabad with no down payment. These charges include road tax, registration and insurance cover along with maintenance and 24×7 roadside assistance and customer support. Myles will take care of vehicle maintenance and insurance cover via Maruti Suzuki’s dealer channel.
On completion of the tenure as selected by the customer, the company offers a buy back option. The eligibility for this Maruti Suzuki subscription plan is that customers need to be over the age of 25 years, be a resident of India and own a driver’s license while they need to have a CIBIL score of over 700.
Appeal to New Age Buyers
Maruti Suzuki Subscription plan will be of benefit to a younger segment of buyers who want to enjoy the flexibility of flipping cars frequently. They seek the benefit of mobility which at the same time involves no heavy investment. These customers can also upgrade to the latest cars with flexible tenure options starting from as low as 12 months.