Maruti Suzuki India Limited on Thursday has announced its ‘Maruti Suzuki Subscribe’ offer for the customers in Delhi-NCR and Bengaluru. The subscription plan starts from Rs 14,463 (inclusive of taxes), for Swift Lxi in Delgu for 48 months.
Under this offer, the customers can use a new Maruti Suzuki model instead of buying it. All they need to pay is an all-inclusive monthly comprehensive fee that covers complete maintenance, insurance and road assistance.
The largest carmaker of India has partnered with Orix India, a subsidiary of Orix Corporation of Japan for this car subscription program.
Under this car subscription plan, customers can choose to subscribe Maruti Suzuki models like Swift, Dzire, Vitara Brezza and Ertiga from Maruti Suzuki Arena. The models like Baleno, Ciaz and XL6 that are sold through Nexa retail chain are also available for the subscription.
The customers can select a subscription plan ranging between 12 months to 48 months, as the automaker claims.
Commenting on this, Shashank Srivastava, Executive Director (Marketing and Sales) Maruti Suzuki India Limited, said, that the vehicle subscription market is new to India and offers huge untapped potential. Globally, the penetration of such car leasing programme varies between 5% and 30%.
Maruti Suzuki aims to expand this subscription program to 40-60 cities within the next 2-3 years.
Who Maruti Suzuki competes in the segment
Other automakers like Volkswagen, Hyundai, Nissan, Toyota and MG Motors are also present in this space with their respective vehicle subscription plans. Tata Motors too offers the Nexon EV for the subscription. Another auto major Mahindra & Mahindra too has joined hands with Revv to offer the vehicle subscription.
Among the luxury carmakers present in India, Mercedes-Benz too has launched the car subscription service earlier.
Third-party operators like Revv, Zoomcar, Myles too are present in the same space with their respective car subscription offers.
Why car subscription is becoming popular?
New age car owners opt for hassle-free access to the vehicle ownership instead of going for the deal with a higher cost of ownership that comes when a new car is purchased. The millennials are especially interested in the car subscription programs instead of owing them.
The subscription plans offer them a sense of ownership without actually owning the vehicle. Also, it comes with the option of changing a vehicle after a certain tenure without going through the hassle of selling and buying an existing and new vehicle respectively. Besides that, these plans offer the customers an asset-light lifestyle, flexibility and affordability as well.