NE BUSINESS BUREAU
BANGALORE, AUG 19
Toyota Kirloskar Motor (TKM) on Tuesday announced the launch of its all-new car leasing & subscription programme in India through a new vertical, Toyota’s Mobility Service (TMS). To start with, Toyota’s Mobility Service will provide leasing and subscription to customers in cities like Delhi-NCR, Bangalore, and Mumbai & gradually expand it to ten more cities within the first year. TKM will partner with existing Brand “KINTO” under Toyota Financial Services, ALD Automotive India & SMAS Auto Leasing India Pvt Ltd to offer this service, says a company release.
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 & subscription gives the convenience of ownership with added flexibility. It also gives the customer to choose from a variety of products that TKM offers in India, including the Glanza, Yaris, Innova Crysta, Fortuner and the soon to be launched, Urban Cruiser.
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.
However, there is a need to create more awareness among customers as they may not be cognizant of the many benefits. For instance, customers may not be aware that they can lease new vehicles as per their preferences – models, variants, maintenance packages. Further, the main advantage of corporate leasing is that it enables tax merit for corporate employees”, he continued.
We would like to follow the changing customer behavior 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.
