Toyota Kirloskar Motor’s new offers and benefits are not applicable to the CBU product, Vellfire
Over the past few weeks, several automakers in India have announced special initiatives to encourage potential buyers to reach a final decision. OEMs have also introduced exclusive benefits for individuals working in frontend departments involved in the fight against COVID-19.
Toyota Kirloskar Motor, the Japanese automaker’s Indian division, has presented special offers and benefits for customers buying a new Toyota product in the month of June 2020. Highlights include zero down payment option, deferred EMI payment for up to 90 days, EMI rates as low as Rs 899 per lakh rupees for the first six months and assured buybacks on select models. Given below is a product-wise briefing of Toyota’s new initiatives.
- Three-month EMI Holiday: Glanza, Yaris, Innova Crysta, Fortuner (new model coming soon) and Camry Hybrid
- Assured Buyback: Glanza and Yaris
- Zero Down Payment: Glanza, Yaris, Innova Crysta, Fortuner and Camry Hybrid
- Low EMI Scheme: Glanza, Yaris, Innova Crysta, Fortuner and Camry Hybrid
In other words, the programmes are applicable for almost the entire Toyota Bharat portfolio except for the range-topping CBU product, Vellfire luxury minivan. Meanwhile, Toyota is working on a new subcompact crossover dubbed the Urban Cruiser. It comes under the partnership between Toyota Kirloskar Motor and Maruti Suzuki India Limited — which gave the Glanza or ‘Toyota-fied’ Baleno. The Toyota Urban Cruiser is essentially a badge-engineered Maruti Suzuki Vitara Brezza.
As India entered its fourth stage of lockdown protocols in early May, automotive facilities such as manufacturing plants, dealerships and service outlets in orange and green zones were allowed to operate in a safe and controlled environment. Alongside, online sales platforms have been started in the form of smartphone applications or a dedicated section of official websites.
To attract buyers, such online platforms offer extra benefits over the regular process of approaching the dealership. These initiatives will not affect the dealership’s relevance since the customer would be ultimately redirected to a showroom of preference. In certain cases, a personal assistant (on behalf of the brand or local dealership) would be assigned to help customers complete the purchase as conveniently as possible.
Throughout the process, minimum physical contact or maximum social distance would be maintained. Customers have the option to take a test drive, as well as get the vehicle delivered at their doorsteps. In fact, essential paperwork is the only part which would require a customer’s physical presence. Across the Indian automotive industry, sales are low albeit progressing gradually.