Toyota India will now offer its entire range of new cars with leasing and subscription that range from 2 to 5 years.
Toyota India has launched it's new car leasing subscription plans in India. The model of car leasing and subscription is very popular in developed nations and is one that allows people to own and use vehicles at much lower costs as compared to acquiring a vehicle. So as new car demand recovers in India post the COVID-19 nationwide shutdown, these new initiatives sure seem like a good way to revive sales for a company like Toyota which does not have entry-level models in the country.
The Toyota new car leasing and subscription plans have been introduced in partnership with a company called Kinto under Toyota Financial Services, ALD Automotive India & SMAS Auto Leasing India. Under the new initiatives, corporate customers can run a vehicle for three to five years on a fixed monthly fee that will include vehicle maintenance, insurance and roadside assistance. For people looking for even shorter lease tenures, there is also a short-term usage plan for 24 to 48 months. Corporate customers can also avail applicable tax benefits.
Toyota has introduced its new schemes in like Delhi-NCR, Bangalore and Mumbai as of now and will improve its available to ten more cities within the first year of operations. The schemes are available across all existing Toyota cars and will include the upcoming Urban Cruiser compact SUV as well.
Commenting on the launch, 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. The role of Toyota’s Mobility Service is aimed at providing one such solution catering to emerging mobility needs of the customers. Both leasing and subscription are expected to grow significantly in the coming years. In time, we want to provide all possible models of mobility service by working closely with our corporate, fleet customers and subscribers to understand their needs and offer customized and futuristic solutions such as Mobility-as-a-Service and connected cars.