Maruti launches vehicle lease subscription service for individual customers
The country's largest carmaker Maruti Suzuki India on Thursday launched its vehicle lease subscription service for individual customers under 'Maruti Suzuki Subscribe' brand.
The company said it has tied up with ORIX Auto Infrastructure Services Ltd, a subsidiary of ORIX Corporation, Japan, to launch the subscription service in India.
The subscription service will begin as a pilot project in Gurugram and Bengaluru and will be initially available on Swift, Dzire, Vitara Brezza and Ertiga from Maruti Suzuki ARENA Channel and Baleno, Ciaz and XL6 from NEXA Channel, the company said in a regulatory filing.
Maruti Suzuki India joins rival Hyundai Motor India, which had last year launched its subscription model initially in six cities across India as part of its partnership with self-drive car-sharing firm Revv.
Similarly, MG Motor India also offers its subscription services through a strategic tie-up with Myles, the car sharing and car subscription company from Carzonrent.
In May this year, German car maker Volkswagen had also launched its car-leasing schemes allowing customers to lease all BS 6 compliant cars in its portfolio with a minimum lock-in period ranging from 2-4 years.
Automobile industry players are looking at new ways of pushing sales and making vehicles accessible to customers in the wake of the Covid-19 pandemic which has added a further blow to the sector that was reeling through a prolonged slump from last year.