MARUTI SUZUKI INDIA LTD. BEGINS VEHICLE SUBSCRIPTION PLAN IN 8 CITIES | AUTO INDUSTRY |AUTO REPORTER
The Majority shareholder in the segment car market the Maruti Suzuki India Ltd. begins Vehicle Subscription plan in eight cities such as Delhi, Bengaluru, Hyderabad, Gaziabad, Faridabad, Gurugram, Noida, and Pune. The Maruti Suzuki Subscribe Plan allows a customer to use a new car without actually owning it and paying an all-inclusive monthly fee that comprehensively covers complete maintenance, insurance, and roadside assistance.
The Maruti Suzuki has teamed up with India's leading subscription companies, such as ORIX Auto Infrastructure Services Ltd. India, a subsidiary of ORIX Corporation, Japan, and "MYLES Car Subscription" to launch "Maruti Suzuki Subscribe" for these cities.
This is a list of a car that Customer can choose under the Maruti Suzuki Subscribe service:
• Customer can Choose a car from Maruti Suzuki ARENA below:
• Customer can Choose a car from Premium NEXA below:
Simply Customer can select its Maruti Suzuki car for a monthly duration of 12 months to 48 months. In other words, the course of one year to four years. In a statement, Maruti Suzuki said, "Customers will pay a monthly subscription charge as low as starting Rs 14,463 including taxes for Swift LXi in Delhi for a tenure of 48 months." This Subscription also includes expenses such as Maintenance, Zero Depreciation Insurance, and 24×7 Roadside Assistance. At the end of the Subscription, period customer can upgrade the vehicle, extend the Subscription, or even buy a car at market price.
The Customer can also choose a White Plate Registration or Black Plate Registration for their car. With the White plate, a vehicle will be registered on Customer's Name, and Available with Duration of monthly subscriptions are 24, 36, or 48 months. But With Black Plate, a car will be registered on Name of Subscription partners like "Orix India ltd." Or "MYLES" and Available with Duration of monthly subscriptions are 12, 18, 24, 30, 36, 42, or 48 months. Both registration plats are available in selected cities only.
The Executive Director (Marketing and Sales) of Maruti Suzuki India Ltd. Shashank Srivastava, said, "The Vehicle subscription market is new to India and such as offers huge untapped potential. Globally, the penetration of such leasing program varies between 5% and 30%."
He also added that "The comprehensive Maruti Suzuki Subscribe initiative offers Customers the multiple advantages and peace of mind from botheration of Maintenance costs and Insurance Renewal."
To expand a Subscription Plan to more cities in the country, Shashank Srivastava said, "Progressively, we aim to offer Maruti Suzuki Subscribe in 40-60 cities in the next 2-3 years."
Some OEMs in the country also rolled out similar vehicle subscription-based models. Recently, TATA motor unveiled its subscription plan for Nexon EV, while Hyundai also launched their Subscription plans last year. Some other players are also in leasing fields like MG motors India and Volkswagen India.