Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

Mahindra Introduces Leasing for Retail Buyers, a Unique Ownership Experience

Posted On: 2018-10-11 09:14:28

Mahindra Introduces Leasing for Retail Buyers, a Unique Ownership ExperienceMahindra & Mahindra Ltd (M&M Ltd), part of the USD 20.7 billion Mahindra Group, today announced the introduction of leasing for retail buyers, a unique ownership experience for customers of its personal range of vehicles. Mahindra will expand purchase options and make the ownership experience of these vehicles more affordable and convenient. This offering has been designed at an extremely attractive monthly lease rental starting at Rs. 13,499/- per month for KUV100NXT and Rs. 32,999 per month for XUV500.

The benefits of leasing to the customers include total convenience, lower or no down payment, zero risk on resale value of the vehicle and a fixed EMI inclusive of maintenance cost. As a result, leasing is gaining increasing acceptance in the market and offers greater convenience compared to actually owning a car. It also makes the entry easier with no initial down payment. Customers also have the flexibility to upgrade their models. Once the lease scheme is over, the person can return the vehicle to the company without the hassle of reselling it, and get a new vehicle.

The lease offering will include services such as insurance, end to end maintenance, on road assistance, accidental repairs, 24 hours replacement vehicle, etc, ensuring a hassle-free experience while using Mahindra vehicles.

Mahindra's lease offering will cater to individual leasing for working professionals and SMEs and will be available across 6 cities namely- Pune, Ahmedabad, Bangalore, Hyderabad, Mumbai and New Delhi in the first phase of launch.

In its next phase, the lease offering will be extended to 19 more cities across India. The lease offer will be available on Mahindra's personal portfolio of vehicles such as the KUV100, TUV300, Scorpio, Marazzo and XUV500. The company has partnered with Orix and ALD Automotive, globally renowned and leading leasing service companies, for this offering. The leased vehicle will be available for period of up to 5 years depending on the city and model selected.

Speaking on the lease offering on Mahindra's personal range of vehicles, V S Parthasarathy, Group CFO & Group CIO, Mahindra & Mahindra Ltd said, "Our Leasing model is a category creating product offering, a 'no-worry' experience for customers who prefer convenience over ownership. It aims to bring a new class of customers, including professionals, small businessmen and millennials, into the M&M car experience - who were waiting on the side-lines. Going forward, I am confident that leasing will gain more currency and the penetration levels will move in line with global trends".

According to Veejay Ram Nakra, Chief of Sales and Marketing, Automotive Division, Mahindra & Mahindra Ltd., "We are happy to introduce this unique leasing offering for our retail customers in association with Orix and ALD Automotive. Our lease offering for retail buyers aligns with our larger vision of transforming the face of mobility in India, disruption being at the very core. With this offering, we hope to help our customers fulfil their aspiration of driving their desired vehicles without necessarily owning them, thereby elevating customer engagement experience to the next level".

Shares of MAHINDRA & MAHINDRA LTD. was last trading in BSE at Rs.764.15 as compared to the previous close of Rs. 763.95. The total number of shares traded during the day was 238119 in over 5994 trades.

The stock hit an intraday high of Rs. 774.3 and intraday low of 750.15. The net turnover during the day was Rs. 181434650.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Orient Abrasives Ltd board to announce 2nd quarter results on Oct 30, 2018

Lemon Tree Hotels Ltd signs license agreement for 70 room property near BKC, Mumbai

Surat Textile Mills Ltd board to consider second quarter results on Oct 24, 2018

Force Motors Ltd board to approve Q2 results on Oct 25, 2018

L&T Technology Services announces completion of Graphene Semiconductor Services acquisition

Cochin Shipyard Ltd board approves buy back at Rs. 455

IIFL Wealth Management Ltd to acquire Wealth Advisors India Pvt Ltd

Infosys Ltd Board declares Interim Dividend of Rs. 7 for 2018-19

Lakshmi Machine Works Ltd board to consider buy back on Oct 22, 2018

Alufluoride Ltd board to consider 2nd quarter results on Oct 23, 2018

Grindwell Norton Ltd board to announce Q2 results on Nov 1, 2018

GMM Pfaudler Ltd board to approve quarterly results on Oct 25, 2018

UPL Limited calls for board meeting on Oct 26, 2018

Infosys Ltd Q2 FY19 net profit rises to Rs. 4110 crores

PTron launches 'Quinto' portable Bluetooth speaker

Eros International's Marathi superhit Boyz 2 shines at the box office

Aplab Ltd calls for board meeting on Nov 2, 2018

Kilpest India Ltd board to consider 2nd quarter results on Nov 10, 2018

Ester Industries Ltd board to approve Q2 results on Oct 29, 2018

Fairchem Speciality Ltd calls for board meeting on Nov 1, 2018

Super Crop Safe Limited obtains organic certificate

Kirloskar Ferrous Industries Ltd board to approve Q2 results on Oct 30, 2018

Jyothy Laboratories Ltd calls for board meeting on Oct 24, 2018

Maruti Suzuki's Japan-India Institute for Manufacturing welcomes its 2nd batch

Supreme Petrochem Ltd calls for board meeting on Oct 26, 2018

Hindalco Industries Ltd board to announce Q2 results on Nov 2, 2018

Menon Pistons Ltd Q2 net profit climbs to Rs. 2.79 crore

Federal Bank Ltd reports net profit of Rs. 266.04 crores in Q2 FY19

Nitta Gelatin India Ltd board to approve quarterly results on Oct 29, 2018

Bimetal Bearings Ltd calls for board meeting on Oct 29, 2018

Mastek Ltd Board to consider Interim Dividend on Oct 25, 2018

CRISIL withdraws ratings of Godawari Power and Ispat Ltd

World-first technology test by the European Tour and Tata Communications shows how virtual reality could transform golf

Aro Granite Industries Ltd board to approve 2nd quarter results on Oct 27, 2018

Premier Explosives Ltd board to announce second quarter results on Oct 29, 2018

Praj Industries Ltd calls for board meeting on Oct 25, 2018

Sonata Software Ltd board to consider 2nd quarter results on Nov 2, 2018

Balaji Amines Ltd board to announce Q2 results on Oct 31, 2018

DQE's Jungle Book swings to USA on Sinclair Network's KidsClick Channel

Super Spinning Mills Ltd board to approve quarterly results on Oct 27, 2018

Mid East Portfolio Management Ltd calls for board meeting on Oct 27, 2018

Suraj Ltd calls for board meeting on Oct 25, 2018

Talbros Automotive Components Ltd receives 'Company of the Year - Auto Components' Award from Zee Business

Ramco Industries Ltd board to consider Q2, H1 FY19 results on Oct 31, 2018

HGS ties up with Plan India for Comprehensive School Improvement Programme in Mumbai and Pune

Supreme Industries Ltd board to consider Q2 FY19 results on Oct 29, 2018

Omax Autos Ltd board to approve second quarter results on Oct 22, 2018

Rajshree Sugars & Chemicals Ltd board to announce 2nd quarter results on Nov 3, 2018

Voltas Ltd board to consider Q2 results on Nov 6, 2018

TCS Wins Eleven Stevies at the 2018 Great Employers Awards







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2018