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Toyota Kirloskar Motor (TKM) has announced a partnership with Myles Automotive Technologies Pvt Ltd to expand its car subscription service in the Indian market. The subscription service is currently being offered for individual customers in Delhi NCR, Mumbai and Bangalore.
The company offers a white-board subscription program in India through a newly launched vertical called Toyota's Mobility Service (TMS). The company aims to cater to more customers with the new partnership by increasing the number of vehicles.
TKM also introduced shorter subscription periods of 12 and 18 months to provide more convenience to customers. After the latest update, customers can now choose from flexible subscription tenures of 12, 18, 24, 36 or 48 months.
Additionally, they can also select annual running kilometre usage for a fixed monthly rental through Myles. The monthly rental includes vehicle usage cost, road tax, registration, insurance coverage and maintenance for kilometres opted and 24x7 roadside assistance that will be handled by Myles in association with TKM dealers.
The monthly rental varies depending on the model, kilometres opted and the tenure. The tariff starts as low as Rs 19,808 for Toyota Glanza and Rs 45,721 for the popular Innova Crysta model in Delhi.
The TKM-Myles subscription service provides tenure extension and buy-back options to customers. Customers can choose new cars in multiple colour options from Toyota's range of products like Glanza, Yaris, Innova Crysta, Fortuner and the recently launched Urban Cruiser.
Commenting on the partnership, Ms Sakshi Vij, Founder and CEO, Myles Automotive Technologies, said, "The tie-up with TKM is an important one for us considering the increasing customer aspiration to drive a Toyota vehicle, many of which are iconic and enjoy segment leadership over the years in the Indian market. Together, we aim to cater to the rapidly rising demand for personal transportation."
Commenting on the tie-up with Myles, Mr Naveen Soni, Senior Vice President, Sales and Service, TKM, said, "We have been experiencing good response for our subscription service since the launch in August this year. We are optimistic that the tie-up with Myles will provide the subscription service further impetus. We look forward to delighting customers together with Myles by offering wider choice and ease of availing the service."
He further added, "The initial signs have been good - customers are choosing the subscription service as it offers a hassle-free experience and greater convenience. There is a higher aspiration to experience the Toyota Fortuner and Innova Crysta through subscription as well leasing. We are witnessing good traction for Glanza too from younger customers. Overall, we are happy with the customer response and we have plans to soon expand to other cities like Pune, Hyderabad and Chennai."
Thoughts About The Toyota Partnering With Myles To Increase Subscription Service
The car leasing service has become extremely popular in the Indian market. Most manufacturers are now offering a white-board leasing vehicle for individual customers. Toyota has increased the number of available vehicles in select cities to cater to the rising demand for subscription service.