Fancy driving a pricey Toyota? Lease it out under car-maker’s new scheme

The company has set a starting price of ₹21,000 a month for its premium hatchback Glanza

For subscription, customers will have the flexibility to opt for short-term usage of three to five years by paying a fixed monthly fee. Photo: Toyota

Launching its car leasing and subscription programme in India on Tuesday (August 18), Toyota Kirloskar Motor is set to offer its products on lease and subscription in Delhi-NCR, Mumbai and Bengaluru. The service will gradually be expanded to 10 more cities within the first year, the company said.

Through a new vertical — Toyota’s Mobility Services (TKM), which will lead its future mobility initiatives in the country, the company has set a starting price of ₹21,000 a month for its premium hatchback Glanza. “This is TKM’s answer to meeting the customers’ expectations,” said Naveen Soni, TKM’s senior vice-president (sales and service).

For subscription, customers will have the flexibility to opt for short-term usage of three to five years by paying a fixed monthly fee that will include vehicle maintenance, insurance and roadside assistance. They can choose from a variety of TKM’s products like Glanza, Yaris, Innova Crysta, Fortuner and the soon to be launched, Urban Cruiser.

“During these (COVID-19) times, the customer wants to go from point A to point B safely but his economic needs are not growing, so he wants to pay a minimum incremental price and he knows that this is for a limited period. That’s the big enabler we are trying to address by coming out with products,” Soni said.

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(With inputs from agencies)

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