Mahindra Automotive, a division of the Mahindra Group, on Wednesday announced a collaboration with Quiklyz, Mahindra Finance's new-age vehicle leasing and subscription platform.
Under this partnership, Quiklyz will now be available Live on Mahindra Auto’s portal and across Mahindra Auto’s dealership network, allowing customers to lease their chosen vehicles from the manufacturer. Apart from that, it will also offer Mahindra’s Treo load vehicles for e-commerce fleet operators.
According to the press release from the company, the leasing and subscription platform will cater to customers across eight Indian cities, including Mumbai, Pune, Delhi, Noida, Gurugram, Bangalore, Hyderabad and Chennai.
Monthly vehicle rentals will begin at INR 21,000 per month, which includes insurance, maintenance, and roadside support, with no additional down payment. Further, the customer will have the option of selecting a tenure period ranging from 24 to 60 months, as well as yearly kilometre options beginning at 10,000 km/year, the release added.
Veejay Nakra, Chief Executive Officer, Automotive Division, M&M, 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. Quiklyz will help us target and leverage the potential of India’s expanding car leasing market, further broadening our consumer portfolio.”
Turra Mohammed, SVP & Business Head, Quiklyz, stated that the leasing and subscription industry is expected to grow at a CAGR of 15-20% in the next 5-10 years, making it one of the fast-growing markets in India. “Our aim is to build a strong foothold in this market and further bolster Quiklyz’s brand presence,” he added.