Hyundai ties up with ALD Automotive India for car leasing
Hyundai Motor India Limited (HMIL) has announced a tie-up with automotive leasing and fleet management company ALD Automotive India. This new collaboration, aimed at providing car leasing services to Hyundai customers, will function under a new venture, Hyundai Leasing.
By Divyank K. Bansal
Under Hyundai Leasing, Hyundai Motor India Limited will offer its entire product line-up at lucrative monthly leasing plans.
Hyundai Motor India Limited (HMIL) has announced a tie-up with automotive leasing and fleet management company ALD Automotive India. This new collaboration, aimed at providing car leasing services to Hyundai customers, will function under a new venture, Hyundai Leasing. In its first phase of operations, Hyundai Leasing will be available in Delhi-NCR, Mumbai, Bengaluru and Chennai and will mainly cater to salaried employees & small-medium enterprises.
Some key highlights of Hyundai Leasing include the fact that the service is applicable across Hyundai's entire model line-up in India. Further, monthly lease rental plans will offer customer-end benefits like no upfront costs or financial risks, convenient tax-saving measures, easy plan upgrades and no insurance/maintenance hassles. However, depending on the city and model chosen, the minimum lease period can range anywhere between two-five years.
Speaking on this new venture, Mr S.J. Ha, Executive Director (Sales & Marketing) at HMIL said, 'The Indian automotive industry is at the cusp of transformation. As a smart mobility solutions provider, we at Hyundai understand the needs of our evolving customers and are committed to making ‘Shared Mobility’ accessible. The vehicle leasing business is rapidly picking pace in India and offers great prospects. We are extremely happy with our collaboration with ALD Automotive and together we will leverage our strengths to create a unique, smart and brilliant ownership experience for our customers.'
It's interesting to note that currently, car leasing has a penetration of less than 1 per cent in India. Whereas it can go as high as 45 per cent in many developed countries. However, with such services coming to the fore in India, the gap is most likely to reduce in the coming years.
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