Devdiscourse
Development News Edition
Give Feedback
VisionRI - Urban Development

Mahindra allows customers to lease vehicles for period of up to five years

The company plans to extend the lease option scheme to another 19 cities in the next phase, it said.


Devdiscourse News Desk mumbai India
Updated: 10-10-2018 20:10 IST
Mahindra allows customers to lease vehicles for period of up to five years

The lease offering will include services such as insurance, end-to-end maintenance, on-road assistance, accidental repairs and a 24-hours replacement vehicle. (Image Credit: Twitter)

Homegrown automaker Mahindra & Mahindra Wednesday launched a new vehicle acquisition scheme that allows customers to lease vehicles for a period of up to five years.

The lease option scheme will be available on Mahindra's personal portfolio of vehicles such as the entry level sports utility vehicle (SUV) KUV100, compact sports utility vehicle TUV300, mid-sized SUV Scorpio, multi-purpose vehicle Marazzo and premium sports utility vehicle XUV500, according to a release.

The leased vehicles will be available at a starting price of Rs 13,499 per month for a KUV100NXT and going up to Rs 32,999 per month for an XUV500, it said adding at present the customers across Delhi, Mumbai, Hyderabad, Bengaluru, Ahmedabad and Pune can avail the scheme.

The company plans to extend the lease option scheme to another 19 cities in the next phase, it said.

"Our leasing model is a category-creating product offering, which aims at bringing in a new class of customers, including professionals and small businessmen, among others. Going forward, I am confident that leasing will gain more currency and the penetration levels will move in line with global trends," said VS Parthasarathy, group chief financial officer and chief information officer, Mahindra & Mahindra.

The lease offering will include services such as insurance, end-to-end maintenance, on-road assistance, accidental repairs and a 24-hours replacement vehicle.

The company also said it has partnered with global leasing service firms Orix and ALD Automotive for the scheme.

The leased vehicle will be available for the period of up to five years depending on the city and model selected, it said.

(With inputs from agencies.)

COUNTRY : India

POST A COMMENT