May 19, 2024

Byrdr Automotive

Car and Comfort

Maruti Suzuki plans car leasing to boost sales, Auto News, ET Auto

The plan has been in the works for about a year and is being spearheaded by a special projects team of the company.
The prepare has been in the performs for about a calendar year and is becoming spearheaded by a unique projects workforce of the enterprise.

New Delhi: India’s biggest car maker Maruti Suzuki India Limited (MSIL) is reportedly thinking of to lease out vehicles to its retail shoppers by dealership networks in the region.

As for every a media report, the prepare has been in the performs for about a calendar year and is becoming spearheaded by a unique projects workforce of the enterprise.

This go will carry hopes for Maruti Suzuki sellers at a time when the marketplace has been under continuous pressure due to the declining domestic revenue and the coronavirus induced financial disaster.

“The condition may well be conducive for Maruti to start these providers considering the fact that urban shoppers are probable to desire the motor vehicle leasing product, given declining affordability and much less problem of leased vehicles”, quoted the media report, citing an unfamiliar source.

The development brings an alternative possibility for desire revival of shopping for cars in the urban markets.

Even though the motor vehicle leasing method has been well-liked in the created markets like US and Europe, it is not new to India also.

Maruti Suzuki experienced previously ventured into the motor vehicle leasing place for corporates. Having said that, it did not see any big achievements.

In the meantime, Hyundai Motor India Ltd and Mahindra and Mahindra Ltd (M&M) previously supply their vehicles on lease. In 2018, Hyundai also built an undisclosed expense in Revv, whilst Mumbai-based mostly M&M invested close to ₹176 crore in Zoomcar.

Others like Mercedes-Benz India and BMW India also have their individual customised leasing choices for their shoppers.

Volkswagen India also introduced a leasing and funding possibility on Wednesday.