NEW DELHI: Japanese carmaker Toyota Kirloskar Motor (TKM) on Tuesday announced the launch of its all-new car leasing and subscription programme in India through a new vertical Toyota's Mobility Service (TMS) that will also 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 to ten more cities within the first year. TKM will partner with existing Brand "KINTO" under Toyota Financial Services, ALD Automotive India & SMAS Auto Leasing India Pvt Ltd for the same.
Under this new initiative, customers can pick cars 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 can opt for short-term usage of 24 months to 48 months. This service is available on models including the Glanza, Yaris, Innova Crysta, Fortuner and the soon-to-be-launched Urban Cruiser. Details can be found at: https://www.toyotabharat.com/mobility-solutions/
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... 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.
"However, there is a need to create more awareness among customers as they may not be cognizant of the many benefits. For instance, customers may not be aware that they can lease new vehicles as per their preferences – models, variants, maintenance packages. Further, the main advantage of corporate leasing is that it enables tax merit for corporate employees."