Mahindra, in partnership with self-drive rental firm Revv, will be offering brand new vehicles to customers at a monthly subscription rate starting from as low as Rs 19,720.
Everyone is aware that the auto industry is going through a rough phase at the moment and passenger vehicles sales have hit rock bottom. Not to mention, car manufacturers are finding it really difficult to clear the current inventory, let alone produce new cars. Now in its attempt to push car sales in these trying times, Mahindra has come out with a unique subscription-based initiative, wherein customers can buy, or rather use, cars by paying a monthly fee. For this Mahindra has partnered up with self-drive rental firm Revv.
According to Mahindra, the ‘flexible ownership experience’ will allow consumers to use a brand-new vehicle, without actually having to buy or own one. The offer begins at a subscription price of Rs 19,720 per month, and this is inclusive of insurance and routine maintenance charges. Under this plan, the company is offering the KUV100, TUV300, XUV300, XUV500, Scorpio, Marazzo and Alturas G4.
The monthly subscription package will also mean that there’s ‘zero down payment, no road tax, zero risk on the resale value of the vehicle, and a fixed amount that includes routine maintenance costs.’ Customers can also change the vehicle model after a certain minimum subscription period, says Mahindra. And once the subscription period is over, the customer can return the vehicle to the company, and has the option buy it for a ‘settlement charge’ or get a new vehicle.
Commenting on the development, Veejay Ram Nakra, Chief of Sales and Marketing, Automotive Division, Mahindra & Mahindra, said, “We are delighted to introduce an all new subscription model for retail customers of our personal vehicles. With this flexible, highly affordable offering, we hope to help our customers fulfil their aspiration of driving their desired vehicles without necessarily owning them. This in turn will also attract a whole new set of customers to brand Mahindra. It also aligns with our larger vision of transforming the face of mobility in India.”