Mahindra Launches Car Subscription With Zero Taxes, Down Payment: 5 Facts You Should Know
Within all the chaos that is going on in the automobile industry, Mahindra and Mahindra Group has come up with a truly innovative solution of sorts – subscription-based car ownership.
For this project, Mahindra and Mahindra has partnered up with Revv, which is a self-drive car rental startup. Revv has already partnered with Hyundai Motor India Ltd too.
We all know that the automobile industry has faced its own share of hardships, and this seems like an intelligent solution for the problem by Mahindra and Mahindra.
We have brought to you five things you should know about this new initiative by Mahindra and Mahindra!
Mahindra and Mahindra Introduces Subscription-Based Car Ownership
The Anand Mahindra led automobile company has introduced a new initiative of renting cars to customers, which will be subscription-based.
The company is banking on the success of this initiative as it is beneficial for the customers. This is because there will be no down payment, no road tax, insurance, no risk of resale value and no maintenance cost.
Veejay Ram Nakra, Chief of Sales and Marketing, Automotive Division, Mahindra & Mahindra Ltd. talked about how this will affect the scenario, saying, “With this flexible, highly affordable offering, we hope to help our customers fulfil their aspiration of driving their desired vehicles without necessarily owning them.”
He also talked about how this will result in an increased footfall and boost the number of customers that the brand attracts. He said that this initiative also agrees with the company’s ‘larger vision of transforming the face of mobility in India’.
Five Things You Should Know About M&M’s Subscription-Based Car Ownership
Here are five things you should know about this new initiative by Mahindra and Mahindra:
- The subscription plans begin at Rs. 19,720 per month for 1 to 4 years. This will vary as per the model that you have chosen.
- In the first part of this project, this initiative will first be available in these cities: Delhi (NCR), Mumbai, Pune, Bangalore, Hyderabad, Kolkata, Chandigarh, and Ahmedabad.
- The cars that Mahindra and Mahindra plans to include in this subscription plan are KUV100, XUV500, XUV300, Scorpio, TUV300, Marazzo and Alturas G4.
- Once the subscription is over, you can either buy the car at a price determined previously, or exchange it and get a new car.
- Interested people will need to share some personal details that will be needed to be shared to be eligible for a car. Also, a refundable deposit will also be required, which is based on the model of the car and he chosen period of use.