Toyota Introduces Leasing And Subscription Service In India

Toyota is offering select models including the Glanza and Innova Crysta under this programme

• Toyota Kirloskar Motor has introduced its leasing and subscription programme in Delhi/NCR, Bengaluru, and Mumbai in the first phase.

• The carmaker has stated that it will expand to ten more cities within a year from launch.

• To put this into action, Toyota has tied up with Kinto under Toyota financial services, ALD Automotive India and SMAS Auto Leasing India.

• Customers have the option of choosing a tenure ranging from three to five years on a fixed monthly fee on lease. This fee will include vehicle maintenance, insurance, and roadside assistance.

• Toyota is also offering a short-term usage plan of 24 to 48 months.

• The models available for subscription and leasing include the Glanza, Yaris, Innova Crysta, Fortuner, and the upcoming Urban Cruiser.

Here's the full press release from the carmaker:

Toyota Kirloskar Motor launches an all-new Mobility Service from Toyota in India

Offering both corporate leasing and individual subscriptions to its customers

• Toyota's Mobility Service - a new initiative by Toyota Kirloskar Motor, to offer leasing and subscription service

• Phase wise launch of leasing and subscription service across major cities; to start with Delhi NCR, Bangalore and Mumbai in the first phase top ten cities within the first year

• Customer convenience as corporates can choose vehicles of their choice for a tenure of three to five years on a fixed monthly fee

• For subscription, customers can opt for short term usage of 24 months to 48 months

Bangalore, August 18, 2020: Toyota Kirloskar Motor (TKM) today announced the launch of its all-new car leasing and subscription program in India through a new vertical, Toyota's Mobility Service (TMS) that will spearhead TKM's future mobility initiatives in India. To start with, 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.

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 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.

Also Read: Toyota Fortuner Gets Sporty TRD Limited Edition Variant In India

Commenting on the launch, Naveen Soni, Senior Vice President, Sales and Service, Toyta Kirloskar Motor, 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.

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.

For more information, customers can log onto: https://www.toyotabharat.com/mobility-solutions/

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