Mumbai, September 12, 2019: Mahindra & Mahindra Ltd (M&M Ltd), part of the USD 20.7 billion Mahindra Group, today announced the introduction of an innovative subscription-based initiative, in partnership with Revv, for retail customers. This unique, flexible ownership experience for customers of Mahindra's personal range of vehicles is an all new way of using a brand new vehicle, without actually having to buy or own one.
The consumer can visit https://www.mahindrasyouv.com/mahindra-subscription or www.revv.co.in/mahindra-subscription and select from a range of Mahindra vehicles that are part of this subscription offering.
With this launch, Mahindra has made the ownership experience of its vehicles more flexible, affordable and convenient. The offer begins at an extremely attractive subscription price starting from Rs. 19,720 per month, inclusive of insurance and routine maintenance charges.
According to Veejay Ram Nakra, Chief of Sales and Marketing, Automotive Division, Mahindra & Mahindra Ltd., “We are delighted to introduce an all new subscription model for retail customers of our personal vehicles. With this flexible, highly affordable offering, we hope to help our customers fulfil their aspiration of driving their desired vehicles without necessarily owning them. This in turn will also attract a whole new set of customers to brand Mahindra. It also aligns with our larger vision of transforming the face of mobility in India."
The benefits of subscription to the customers include complete convenience, zero down payments, no road tax, zero risk on the resale value of the vehicle, and a fixed amount that includes routine maintenance costs. Most importantly one has the flexibility to change the vehicle model after a certain minimum subscription period.
This subscription model makes it easier for customers to get their vehicle with no initial down payment and customers also have the flexibility to upgrade their models from time to time. In fact, once the subscription period is over, the person can return the vehicle to the company without the hassle of selling it, and get a new vehicle.
About Mahindra's New Vehicle Subscription Model
The customer can visit the website and select from a range of over 6 Mahindra models. After sharing some personal details to confirm their eligibility for the subscription offer, the customer needs to pay a refundable deposit based on the model chosen, and the usage period selected. The company will then order for the vehicle. Usually the vehicle is delivered within a period of one month, and prior to delivery one needs to pay the first month's fees in advance. Subsequently, they would need to pay this fee every month for the duration of the subscription period.
The subscription model will be available on Mahindra’s personal portfolio of vehicles, namely – KUV100, XUV500, XUV300, Scorpio, TUV300, Marazzo and Alturas G4. It will be available for period of one to 4 years in case of a new car.
In fact, once the minimum subscription period is over, the person can return the vehicle without the hassle of selling it and get a new vehicle. Or they have the option of owning it, by buying it from the company at a pre-determined charge.
Mahindra's subscription offer will cater to working professionals and SMEs and will be available across 8 Indian cities including Delhi (NCR), Mumbai, Pune, Bangalore, Hyderabad, Kolkata, Chandigarh, Ahmedabad in the first phase.
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The Mahindra Group is a USD 20.7 billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities. It enjoys a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world’s largest tractor company, by volume. It also enjoys a strong presence in agribusiness, aerospace, commercial vehicles, components, defense, logistics, real estate, renewable energy, speedboats and steel, amongst other businesses. Headquartered in India, Mahindra employs over 2,40,000 people across 100 countries.
Learn more about Mahindra on www.mahindra.com / Twitter and Facebook: @MahindraRise
Media contact information:
Vice President (Communications)
Mahindra & Mahindra Ltd.
Office Direct Line – + 91 22 28468510
Office Email Address – [email protected]