Maruti Suzuki India Limited today announced its partnership with Quiklyz by Mahindra Finance for its Subscribe program. Quiklyz will offer a white plate subscription for the Maruti Suzuki range of vehicles. The Company has further added Kolkata market to its Subscription program.
Launched in July 2020, Maruti Suzuki Subscribe is a program where a customer can enjoy owning a car without buying a vehicle. It allows the customer to opt from a range of Maruti Suzuki vehicles, for multiple tenure options, for an all-inclusive fixed monthly rental. This monthly rental includes the vehicle usage charges, registration charges, maintenance, insurance, and other common services related to vehicle usage. Once the tenure is over, the customer has an option to switch over to a new car or avail the option of purchasing the subscribed car. The service also offers the customers the option of foreclosing the subscription at any point in time.
On this occasion, Mr. Shashank Srivastava, Senior Executive Director, Marketing and Sales, Maruti Suzuki India Limited, said, "The car subscription is a relatively new concept for the customers in India. In less than two years of its launch, we have received a phenomenal customer response for Maruti Suzuki Subscribe with nearly 1,00,000 enquiries. The Subscription program allows the customer to select from a bouquet of vehicle options, as per their requirements. We have been constantly upgrading our Subscribe program services with learnings and feedback from our customers. This has encouraged us to expand Maruti Suzuki Subscribe to newer markets like Kolkata and partner with Quiklyz by Mahindra Finance. Through this new partnership and expansion, we look forward to serving our customers with more ease and convenience."
Speaking on the partnership, Mr. Turra Mohammed, SVP & Business Head, Quiklyz, said "Car subscription is gaining pace as customers' ownership preference is changing across all segments, including individual, professional, SME and corporate. Subscription provides super convenience and unmatched flexibility, something that customers expect and want from their car ownership experience. Quiklyz by Mahindra Finance is committed to playing a significant role in this market. Therefore, we are excited to partner with Maruti Suzuki to provide unmatched subscription service for the entire range of Maruti Suzuki portfolio."
Maruti Suzuki Subscribe today offers cars across 20 cities including Delhi-NCR, Bengaluru, Hyderabad, Pune, Mumbai, Chennai, Ahmedabad, Jaipur, Indore, Mangalore, Mysore and the new addition Kolkata.
Customers can avail the service through four subscription partners namely: Quiklyz, Orix, Myles and ALD. It also provides the customers with an added option of choosing between white or black registration plates, thus offering further flexibility to the car ownership experience.
Maruti Suzuki has also launched a marketplace model for Maruti Suzuki Subscribe that served as a unified platform to offer customised car subscription products through multiple partners at competitive rates. It offers added convenience and flexibility to modern-age car buyers under the umbrella slogan of 'Your choice of car. Your choice of subscription provider.'
Shares of Mahindra & Mahindra Financial Services Limited was last trading in BSE at Rs. 158.25 as compared to the previous close of Rs. 162.25. The total number of shares traded during the day was 425221 in over 3743 trades.
The stock hit an intraday high of Rs. 162.45 and intraday low of 157.60. The net turnover during the day was Rs. 67956645.00.
Shares of Maruti Suzuki India Limited was last trading in BSE at Rs. 8546.10 as compared to the previous close of Rs. 8584.65. The total number of shares traded during the day was 14279 in over 2695 trades.
The stock hit an intraday high of Rs. 8658.15 and intraday low of 8525.00. The net turnover during the day was Rs. 122490544.00.