Mahindra recently introduced its subscription program. Last month to be precise. The company has in the meanwhile also got a lease program that started late last year. So, if you have had any questions about the new subscription program that Mahindra started and how it is going to help you as a customer, we have got it covered.
1) Will vehicle subscription become a trend given others too are already in this same program or are trying to?
It is already a trend in the west and India too will gradually catch up.
2) What are the benefits to the customer?
The benefits of subscription include flexibility of duration, minimum documentation, no CIBIL score required and option to switch post subscription period.
3) Does Mahindra sell these cars to Revv at a discount?
No special prices are offered to Revv. The prevalent prices are what Revv pays. In fact, customers need to order the vehicle that they like and then Revv places the order. Within a month, the vehicle is delivered and then handed over to the customer.
4) Is the standard or extended warranty honoured with these cars given that there will be different users?
5) How does the insurance work because these cars again will be driven by multiple people and registered in Revv's name.
It is a type of insurance which covers for multiple drivers. So, the customer (driver) can be rest assured.
6) Will these cars have a Revv branding on the body much like how Zoomcar has?
There will not be any branding on the subscription vehicles, since these are for long term personal usage.
7) Isn't the subcription price a bit too high? How much does the customer have to pay if she/he wants to purchase the car at the end of a one year term? Will Revv handle the transfer as well as the re-registration?
Considering the benefits, of no down payment, flexible tenure, insurance and routine maintenance that is included, this is a treat for the customer. For example, one year subscription on the XUV300 would cost an all-inclusive amount of approximately Rs. 34,000/month. Yes, Revv will handle the transfer.
8) How many cars has Revv purchased so far from Mahindra and is this service limited to only certain places? What's the ratio of petrol/diesel cars purchased and even manual-automatic?
We are at an early stage right now and the program has been well received. We have a good pipeline. As we move on, the picture will be clear in terms of the preference for the fuel and transmission types.
9) What if during the warranty and lease program, the customer gets his car serviced from a non-authorised workshop? What action will be taken by the company?
Mahindra subscription takes care of the periodic maintenance. The customer just needs to book it over call and that is quite a hassle free experience.
10) Can we see this program being extended on electric vehicles in the future?
This depends on market demand.
11) Will Mahindra continue this once BS-VI norms are implemented?
Of course, this will be continued even after the BSVI norms are implemented.
12) What if someone wants to break away from the contract before the term is completed?
A token amount is charged for foreclosure.
13) What are the restrictions imposed on a customer during the lease period?
No commercial usage is allowed and rest is as per customer contract.