Mahindra and Mahindra has today announced the introduction of a subscription-based car ownership initiative for the retail customer, in partnership with Revv. Simply put, this means that one can use a brand new vehicle without actually having to buy or own one. The subscription model will be available on Mahindra’s personal portfolio of vehicles, which are – KUV100, XUV500, XUV300, Scorpio, TUV300, Marazzo and Alturas G4. It will be available for a period of one to 4 years in case of a new car. The prices of this subscription scheme depend on the vehicle and the period of ownership with the least expensive plan priced at Rs. 19,720 per month.
As of now, this subscription service will be available in Delhi (NCR), Mumbai, Pune, Bangalore, Hyderabad, Kolkata, Chandigarh, and Ahmedabad. The major benefit of choosing this subscription service will be that you can get a brand new Mahindra SUV of your choice without any down payment, insurance charges, and road tax & registration liability. The subscription can be chosen for a single year or multi-year, as per the convenience and if you fall in love with your SUV and want to keep it forever, you can acquire (buy) it from Mahindra at a pre-determined settlement charge.
According to Veejay Ram Nakra, Chief of Sales and Marketing, Automotive Division, Mahindra & Mahindra Ltd.,
We are delighted to introduce an all new subscription model for retail customers of our personal vehicles. With this flexible, highly affordable offering, we hope to help our customers fulfil their aspiration of driving their desired vehicles without necessarily owning them. This in turn will also attract a whole new set of customers to brand Mahindra. It also aligns with our larger vision of transforming the face of mobility in India.
Those who are interested can visit click here to visit the website and know more about the scheme. One can select from a range of over 6 Mahindra models. After sharing some personal details to confirm their eligibility for the subscription offer, the customer needs to pay a refundable deposit based on the model chosen, and the usage period selected. The company will then order for the vehicle which usually is delivered within a period of one month. However, one needs to pay the first month’s fees in advance prior to the delivery.
Subsequently, they would need to pay this fee every month for the duration of the subscription period. In fact, once the minimum subscription period is over, the person can return the vehicle without the hassle of selling it and get a new vehicle. Or they have the option of owning it, by buying it from the company at a pre-determined charge. Hyundai also runs a similar subscription-based service in partnership with Revv and in future, it is expected several other players will jump in this segment.
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