Maruti Suzuki introduces pre-fixed buy-back price option. Here's what it means

Maruti Suzuki says its new initiative would allow for greater flexibility for customers to plan and make a more informed decision of retaining the car
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Maruti Suzuki sells Ciaz, Ignis and XL6 through its Nexa retail outlets.
Maruti Suzuki sells Ciaz, Ignis and XL6 through its Nexa retail outlets.

Maruti Suzuki on Friday announced the introduction of a new pre-fixed buy-back price option for new vehicles with white number plate under which those subscribing to its vehicles can agree to a pre-determined vehicle buy-back price for the said model.

Maruti Suzuki offers a number of its car models under a subscription-based model where a person pays a tenure-based amount to drive a new vehicle. The cost of servicing, registration price and similar factors are included in this amount that can be paid either monthly, quarterly or even half-yearly. What is new now is that such customers will also be provided with a pre-fixed vehicle buy-back price along with subscription rentals.

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Maruti Suzuki, in a press statement, informed that this new initiative would allow for greater flexibility for customers to plan and make a more informed decision of retaining the car at the end of its subscription tenure. This new white plate subscription with buy-back product will be an addition to the current flagship subscription plan that includes the tenure end options of returning the car to the subscription partner or retaining the car at the market decided price. The White Plate Subscription with buy-back option would be available in select cities based on the presence of subscription partners.

Maruti Suzuki has so far claimed to have enjoyed a lot of traction with a 292% growth in volumes in the FY 22-23. And the latest buy-back price iniative is likely to come as a further shot in the arm. “Having celebrated the third anniversary last month, the Maruti Suzuki Subscribe program continues to expand its footprint and become the preferred choice of car ownership for customers," said Shashank Srivastava, Senior Executive Officer, Marketing and Sales, Maruti Suzuki India Limited. "I am thrilled to announce the introduction of more ownership options under Maruti Suzuki Subscribe program, which would provide higher flexibility to customers in fulfilling their needs with greater ease and convenience."

First Published Date: 11 Aug 2023, 12:55 PM IST
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