Maruti Suzuki Subscribe: India’s largest car manufacturer Maruti Suzuki India (MSI) on Thursday announced the launch of its new vehicle subscription program for individuals. Termed as Maruti Suzuki Subscribe, the subscription program has been launched across Delhi, NCR (Noida, Ghaziabad, Faridabad, Gurugram), and Bengaluru, the company said.
The new subscription program allows customers to use a new Maruti Suzuki vehicle without actually owning it. They instead need to pay an all-inclusive monthly fee that comprehensively covers complete maintenance, insurance and roadside assistance.
Maruti has teamed up with ORIX Auto Infrastructure Services India, a subsidiary of Japan-based ORIX Corporation, to launch Maruti Suzuki Subscribe for these cities, MSI informed in a filing to the stock exchanges.
Through Maruti Suzuki Subscribe, the customers can choose to subscribe to a new Swift, Dzire, Vitara Brezza and Ertiga from Maruti Suzuki ARENA and a new Baleno, Ciaz and XL6 from NEXA, the automaker said.
According to the subscription program, customers can select duration ranging from 12-48 months, according to their choice. They would need to pay a monthly subscription starting from Rs 14,463 (including taxes) for Swift Lxi in Delhi for a tenure of 48 months. This subscription is all-inclusive and covers expenses like maintenance, zero dep insurance and 24×7 roadside assistance.
On successful completion of subscription tenure, the customer can also opt to upgrade vehicle, extend, or buy the car at market price.
According to the choice of the customer, the subscription program offers the car in a white number plate (which is registered in the name of the customer) or black number plate (wherein it is registered in the name of Orix).
Speaking about the new subscription program, Shashank Srivastava, Executive Director (Marketing and Sales) Maruti Suzuki India Limited, in the statement said, “The comprehensive Maruti Suzuki Subscribe initiative offers customers the multiple advantages and peace of mind from botheration of maintenance costs and insurance renewal. The program is especially focussed to bring convenience to the individual customers.”
He added that besides flexibility of tenure, it offers nil down payment and includes registration costs, insurance and its renewal as well as routine maintenance.
“Additionally, the roadside assistance service brings total peace of mind to the customers. Progressively we aim to offer Maruti Suzuki Subscribe in 40-60 cities in the next 2-3 years.” Srivastava said.
He said the vehicle subscription market is new to India and as such offers huge untapped potential. Globally, the penetration of such leasing programs varies between 5 per cent and 30 per cent.
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