Home Car News Toyota launches Subscription, Leasing for Innova, Fortuner, Glanza, Yaris

Toyota launches Subscription, Leasing for Innova, Fortuner, Glanza, Yaris

Toyota Kirloskar Motor Mobility Service platform is designed to offer corporate leasing and individual subscriptions to customers

Toyota’s Mobility Service will be introduced nationwide based on a phase wise launch approach beginning in major cities of India. The benefit first comes to Delhi NCR, Bangalore and Mumbai in the phase one, and will expand to ten top cities in the first year.

Curated for customer convenience, corporates can choose vehicles for three to five year period basis a fixed monthly fee. Subscription model for customers are designed as short term 24 months to 48 month offers. All popular Toyota cars can be availed via this, including Innova Crysta, Fortuner, Yaris, Glanza, etc.

Toyota leasing and subscription programme

Toyota Mobility Service (TMS) car leasing and subscription programme heralds the beginning of future mobility initiatives in India. TKM has partnered with existing Brand ‘KINTO’ under Toyota Financial Services, ALD Automotive India, and SMAS Auto Leasing India Pvt Ltd. New flexibilities ensure customers can pick a car for a three to five year tenure for a fixed monthly fee on lease. Monthly fee is inclusive of vehicle maintenance, insurance and roadside assistance.

Toyota Fortuner BS6

Subscription customers will be those looking for a short-term 24-48 month arrangements. Owing to their fixed period tenure and inclusion of various miscellaneous costs, the market that can afford such offers depends on those who can foot the monthly subscription cost, which tends to be higher than a traditional ownership long-term loan offering.

Flexibility of car subscription plans

As subscription flexibility becomes a norm and easy availability, its acceptance is yet to be studied in detail as such subscription models for personal mobility are a fairly new offering. TKM is closely viewing changing customer behaviour as customers opt to use car over owning a car, especially in current circumstances.

This is imperative in India, as globally the leasing and subscription model is a matured one that helps owners to upgrade to new cars at a much faster time. However, it will take time for people to evolve from the hangover of ownership, and the joys it supposedly brings with it.

Toyota Mobility Service is curated to offer emerging mobility solutions. With leasing and subscription expected to grow in the years to come, in time, TKM will offer all possible mobility service options based on specific needs of corporate, fleet customers and subscribers. For now, prospects are yet to understand leasing preference, and flexibility of choice when it comes to models, variants, maintenance packages. Corporate leasing enables tax merit for such employees.

Naveen Soni, Senior Vice President, Sales and Service, TKM, said, “The automotive industry globally is experiencing a ‘once-in-a-century’ profound transformation and it is imperative that we as automobile manufacturers, transform ourselves from a traditional car company to a mobility company. Be it product or services, as a customer-centric company, it has always been our endeavour to introduce products and services in line with the evolving customer needs.”

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