September 2020 \ Business & Investment \ BUSINESS AND GOVERNANCE
Toyota Kirloskar launches car leasing

Automobile manufacturer Toyota Kirloskar ...

Automobile manufacturer Toyota Kirloskar Motor in August launched a car leasing and subscription programme in India. The company launched the programme via a new vertical—Toyota’s Mobility Service (TMS)—that will spearhead its future mobility initiatives in India. Toyota’s Mobility Service will provide leasing and subscription to customers in cities like Delhi-NCR, Bengaluru and Mumbai and gradually expand it to 10 more cities within the first year, the auto manufacturer said.

“Under this new initiative, customers can pick cars of their choice for a tenure of three to five years on a fixed monthly fee on lease. The monthly fee will be inclusive of vehicle maintenance, insurance and roadside assistance. “For subscription, customers will have the flexibility to opt for short-term usage of 24 months to 48 months. Car leasing and subscription gives the convenience of ownership with added flexibilities.” The company said it will follow the changing customer behaviour in the country, wherein customers prefer “using a car” rather than “owning a car” due to the prevailing circumstances. Globally too, there is a growing trend wherein leasing and subscription business has matured and is seen as the stepping-stone for the introduction of futuristic mobility solutions, the company added.

Tags: Toyota