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Mahindra to offer vehicles on lease

Mahindra has entered in to the car leasing segment along with Orix and ALD Automotive. In simple terms, this means that you can borrow a Mahindra car on a monthly subscription. As of now, the carmaker will be lending out just two of its vehicles – the XUV 500 and the KUV 100 NXT. The leasing amount for the XUV 500 is Rs 32,999 and for the KUV 100 NXT, it’s Rs 13,499. This amount will include services such as insurance, end-to-end maintenance, on-road assistance and road tax.

Veejay Ram Nakra, chief of sales and marketing, automotive division, Mahindra and Mahindra, said, “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.”

This is the first phase, so it is restricted to just six cities – Pune, Ahmedabad, Bangalore, Hyderabad, Mumbai and New Delhi. During the next phase, the carmaker will extend this programme to 19 more cities across India and vehicles such as the KUV100, TUV300, Scorpio, Marazzo and the XUV500 will be up for leasing. The rented vehicle will be available for a period of up to five years depending on the city and model selected.

V S Parthasarathy, group CFO and group CIO, Mahindra and Mahindra, said, “Our Leasing model is a category-creating product offering, a ‘no-worry’ experience for customers who prefer convenience over ownership.”
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