MSIL’s Digital Platforms are Revolutionising Auto Financing in India and Catering to a Growing Customer Base (Nexa and Arena)
Maruti Suzuki India Limited (MSIL) is hugely committed to delivering customer satisfaction. And provides a comprehensive range of services to enhance the “Joy of Mobility” experience. With a focus on customer-centric services, MSIL offers Smart Finance, Maruti Suzuki Subscribe, and Maruti Suzuki Rewards. And with it, has been revolutionising the automotive buying experience in India.
Maruti Suzuki’s digital platform for providing loans to customers has revolutionized the financing process. The benefits of Smart Finance for customers include faster processing times, higher loan amounts, and lower interest rates. Additionally, Smart Finance has orchestrated the disbursement of over INR 52,000 crores worth of loans to 8.3 lakh customers. This helps the larger than life Maruti Sales phenomenon along smoothly.
Maruti Suzuki Subscribe: Flexibility Without Ownership
Maruti Suzuki Subscribe, car subscription service allows customers to have a car for a flexible period without having to purchase it. The programme has been successful, with the company selling over 5,001 car subscriptions since its launch.
The collaboration with leasing partners like Orix, ALD Automotive, Quiklyz by Mahindra Finance, Myles, and SMAS provides a diverse range of Maruti Suzuki vehicles. The features and benefits of Maruti Suzuki Subscribe make it an attractive option for customers seeking flexible car ownership options.
MSIL’s Loyalty Program: Why Customers Keep Coming Back
Maruti Suzuki Rewards is a cardless customer loyalty program that has been a hit with over 8.2 million members in just two years. MSIL has a partnership with Indian Oil Company Ltd. to offer XtraRewards points to customers for refuelling at their pumps. The program enhances the retail experience for customers, and the benefits of the program make it an attractive option for customers to stay loyal to Maruti Suzuki.
Maruti Fronx and Fronx: The Sales Munching launches in Nexa’s Lineup
Nexa is MSIL’s premium brand is instrumental in the company’s plan to further its segment dominance. While it already leads as the largest car manufacturer, MSIL is now vying for the top 2 spots by placing Nexa in second place. The potential second-largest car brand in India already sells the Grand Vitara, Baleno, Ignis, XL6, and Ciaz. Nexa outlets will also sell Fronx compact crossover, and Jimny SUV.
And both cars will play a significant role in achieving this objective. Nexa models accounted for 23 percent of total Maruti Suzuki sales in FY22, and the brand grew by 47-48 percent over FY21. The company aims to sell around 370,000 units of Nexa models by the end of FY24, up from 255,000 units in FY22.
Shashank Srivastava, Senior Executive Officer, Marketing & Sales, Maruti Suzuki India Limited said, “Maruti Suzuki has been delivering the ‘Joy of Mobility’ to customers for over 4 decades now. The company has evolved over the years, be it with the products that it offers, or the services it provides to enhance customer experiences. With customer friendly initiatives such as Maruti Suzuki Smart Finance, Subscribe and Rewards program, the company has set a benchmark in the industry and strengthened the trust that customers have in the brand. I am delighted with the response these new initiatives have received from customers. With an increasing number of sales outlets, digital platforms and path-breaking products and services, Maruti Suzuki is confident that it will be able to empower more people with new ways of owning a car.”