New Delhi: Toyota Kirloskar Motor (TKM) Tuesday launched its car leasing and subscription programme in India through a new vertical, Toyota’s Mobility Services, which will lead its future mobility initiatives in the country.
The company has partnered with in-house brand ‘KINTO’ under Toyota Financial Services, ALD Automotive India and SMAS Auto Leasing India Pvt Ltd to offer the services, which will initially be available in Delhi-NCR, Bengaluru and Mumbai.
It will then be gradually expanded to 10 more cities within the first year.
Toyota’s Mobility Services (TMS) start from Rs 21,000 a month for its premium hatchback Glanza.
“This is TKM’s answer to meeting the customers expectations. During these (COVID-19) times, the customer wants to go from point A to point B safely but his economic needs are not growing, so he wants to pay a minimum incremental price and he knows that this is for a limited period. That’s the big enabler we are trying to address by coming out with products,” TKM Senior Vice President, Sales and Service, Naveen Soni told PTI.
He said COVID-19 has come as a big dampener to shared mobility and customers who have accustomed themselves to it.
Under the initiative, the company said customers can pick cars of their choice for a tenure of three-to-five years on a fixed monthly fee, inclusive of vehicle maintenance, insurance and roadside assistance, on lease.
Soni side while leasing was established in India, mostly addressing the needs of top executives of corporates, but in the mass segment where the common man mobility needs have to be addressed, it is where Toyota’s effort is to aggregate all these mobility service providers and give customers the options to choose from.
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. 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.
Soni said globally also the automotive industry is experiencing a ‘once-in-a-century’ profound transformation. The role of Toyota Mobility Service 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.
He further said in time, TKM would provide all possible models of mobility service by working closely with corporate, fleet customers and subscribers to understand their needs and offer customised and futuristic solutions such as Mobility-as-a-Service and connected cars.
(PTI)