With the growing trend of leasing and subscribing over buying a new car across the world , Toyota Kirloskar Motor (TKM) today announced the launch of its all-new car leasing subscription program in India through Toyota’s Mobility Service (TMS) that will spearhead TKM’s future mobility initiatives in India. 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 a variety of products that TKM offers in India, including the Glanza, Yaris, Innova Crysta, Fortuner and the soon to be launched, Urban Cruiser for a period of 24 months to 48 months.
Commenting on the launch, Mr. 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. Both leasing and subscription are expected to grow significantly in the coming years. In time, we want to provide all possible models of mobility service by working closely with our corporate, fleet customers and subscribers to understand their needs and offer customized and futuristic solutions such as Mobility-as-a-Service and connected cars.”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.
Toyota’s Mobility Service will provide leasing and subscription to customers in cities like Delhi- NCR, Bangalore and Mumbai and gradually expand it to ten more cities within the first year. To start with, TKM will partner with existing Brand “KINTO” under Toyota Financial Services, ALD Automotive India & SMAS Auto Leasing India Pvt Ltd.