Mahindra Automotive, part of the Mahindra Group, has today announced its partnership with Quicklyz, which is a vehicle leasing platform of Mahindra Finance. The duo will lease Mahindra SUVs to consumers via Mahindra Auto’s website and dealership network. In addition, the partnership will leverage buyers with a transparent and hassle-free process to further increment the subscription rate. In fact, at a time when most Mahindra SUVs boast a super-long waiting period, leasing one could be a great move.
In the process, Quiklyz will serve customers with their choice of Mahindra SUVs in 8 Indian cities – Mumbai, Delhi, Pune, Noida, Bangalore, Gurugram, Chennai, and Hyderabad. The monthly rentals for vehicles under the leasing plans will start from around Rs. 21,000 per month. Interestingly, the subscription cost includes insurance, roadside assistance and even maintenance.
The users will also be kept away from paying any down payment with the leasing model. Talking of tenure choices, consumers can settle down anywhere in between 24 to 60 months with an annual kilometre limit of 10,000 km per year.
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Veejay Nakra, Chief Executive Officer, Automotive Division, M&M Ltd., said, “The pay per use model has been specifically designed keeping in mind the changing customer needs. Offering leasing options to customers through our sales channels will provide customers with flexibility and transparency in a simple and convenient manner. They will be able to choose their preferred vehicles with the option to return, buy back or upgrade to a newer model at the end of the tenure. Quiklyz will help us target and leverage the potential of India’s expanding car leasing market, further broadening our consumer portfolio.”
Raul Rebello, Chief Operating Officer-Core Business, Mahindra Finance mentioned, “We are delighted to partner with Mahindra Auto in our Quiklyz journey. The leasing and subscription module in India is currently at a nascent stage and coupled with the multi-faceted advantages accruing from Mahindra’s auto sector, our spread and reach pan India would be an advantage. I am confident that our customers, individuals and corporates alike would benefit from this association, which will enable them to lease the best of Mahindra vehicles on offer”.
Turra Mohammed, SVP & Business Head – Quiklyz, stated, “Vehicle leasing and subscription are becoming a new normal and cost-effective means of accessing a vehicle. The Leasing and Subscription Industry is expected to grow at CAGR of 15-20% in the next 5-10 years making it one of the fast-growing markets in India. We are delighted to offer the complete range of SUVs from Mahindra on leasing through a digital platform. Our aim is to build a strong foothold in this market and further bolster Quiklyz’s brand presence”.
Under this partnership, Mahindra’s Treo load vehicles will also be leased by Quiklyz for electric fleet operators. The subscription comes bundled with peace of mind for maintenance, resale value and battery life of the electric vehicle backed by the OEM.