Mahindra SUVs Can Now Be Leased Starting At ₹ 13,499 Per Month

Posted on Thu ,11 Oct 2018 8:18 am
Vaibhav Yedavi
Tagged by mahindra, no more tags
  
 
Mahindra SUVs Can Now Be Leased Starting At ₹ 13,499 Per Month

Leasing amounts includes road tax, insurance, breakdown assistance, accidental repairs and maintenance costs.

 

Mahindra has introduced a leasing option on its personal vehicle range which aims to make purchase and ownership experience more affordable and convenient for the customers. The lease rental starts at ₹ 13,499 per month for the KUV100NXT and goes up to ₹ 32,999 per month for the XUV500.

 

While leasing is popular in the developed markets across the world, its penetration in India is less than 1% and mostly limited to offerings from the premium segment or by corporates. Mahindra says that with growing cost of mobility, subscription-based model will set new ground rules for vehicle acquisition.

 

Mahindra’s lease offering will cater to individual leasing for working professionals and SMEs (small & medium enterprises). Leasing benefits include lower or no down payment and the monthly rental includes insurance, end to end maintenance, on road assistance, accidental repairs and 24 hours replacement vehicle.

 

The leased vehicle will be available for a period of up to 5 years depending on the city and model selected. Once the lease period is over, customers have the option of returning the vehicle to the company and opting for a new model. Mahindra has partnered with leading leasing service companies Orix and ALD Automotive for the same.

 

The lease offer is available on the KUV100, TUV300, Scorpio, Marazzo and the XUV500. Initially the offer is available in 6 cities – Pune, Ahmedabad, Bangalore, Hyderabad, Mumbai and New Delhi, but Mahindra will extend the offering to 19 more cities in the next phase.

 

V S Parthasarathy & Veejay Nakra Taking On The Leasing By Mahindra Offering

 

Speaking on the lease offering on Mahindra’s personal range of vehicles, V S Parthasarathy, Group CFO & Group CIO, Mahindra & Mahindra Ltd said, “Our Leasing model is a category creating product offering, a ‘no-worry’ experience for customers who prefer convenience over ownership. It aims to bring a new class of customers, including professionals, small businessmen and millennials, into the M&M car experience – who were waiting on the side-lines. Going forward, I am confident that leasing will gain more currency and the penetration levels will move in line with global trends”.

 

According to Veejay Ram Nakra, Chief of Sales and Marketing, Automotive Division, Mahindra & Mahindra Ltd., “We are happy to introduce this unique leasing offering for our retail customers in association with Orix and ALD Automotive. Our lease offering for retail buyers aligns with our larger vision of transforming the face of mobility in India, disruption being at the very core. With this offering, we hope to help our customers fulfil their aspiration of driving their desired vehicles without necessarily owning them, thereby elevating customer engagement experience to the next level”.



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