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Mahindra has introduced a subscription-based service for its range of vehicles. The prices for the subscription service starts from 19,720 per month, this includes the insurance and maintenance.
The KUV100, TUV300, XUV300, Marazzo, XUV500, Scorpio, and Alturas G4, are all the models that customers can choose from. Mahindra has partnered with Revv, a subscription-based company for this initiative.
The customers can subscribe to a Mahindra model by visiting the Mahindra's official website for subscription or Revv's website as well. The Subscription service availability is limited to 8 cities across India. This list includes, Delhi (NCR), Mumbai, Pune, Bangalore, Hyderabad, Kolkata, Chandigarh and Ahmedabad. More cities will be added at a later stage, as part of their phase two operation.
Customers opting for the subscription service will be offered with the choice of either selecting a brand-new vehicle or a used car. They can also choose the tenure of subscription as well with a brand-new car having a subscription period of a minimum of 1 year. The used car, however comes with a minimum subscription period of 3 months.
The subscription service enables customers to use a new vehicle without having to actually buy or own one. The other benefits of a subscription model to the customers include - zero down payments, no road tax, zero risks on the resale value of the vehicle, and a fixed amount that includes routine maintenance costs.
After the end date for subscription, customers have an option to purchase the car from the company at a predetermined charge.
Talking about the subscription model, Veejay Ram Nakra, Chief of Sales and Marketing, Automotive Division, Mahindra & Mahindra Ltd., said, the company is excited to introduce the scheme. The new subscription model will help the aspiration of the customers, using the vehicle and not necessarily owning them. This scheme will help the company's plan to change the process of owning cars in India.
The subscription enrolling process starts with, 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 a new vehicle. Usually the vehicle is delivered within a period of one month, and prior to delivery one needs to pay the first month's fees in advance.
Subsequently, they would need to pay this fee every month for the duration of the subscription period. Mahindra is not the first company to go this route, earlier Honda has also introduced a similar programme of owning a car - here are all the details.
Thoughts About The Mahindra's Subscription Service.
Automotive companies are starting always finding an alternative to over the current slowdown in the market. This enables the customers to own a car with hassle-free experience, before buying a car or selling a used one.