Toyota Kirloskar Motor has announced the launch of its a new car leasing and subscription program in India. The company will facilitate this venture through its new vertical, Toyota’s Mobility Service (TMS), which 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. TKM will partner with existing Brand “KINTO” under Toyota Financial Services, ALD Automotive India and SMAS Auto Leasing India Pvt Ltd.
Commenting on the launch, 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.”
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 and 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.