Mahindra & Mahindra (M&M), part of the $20.7 billion Mahindra Group, has introduced a subscription-based initiative, in partnership with Revv, for customers of Mahindra's personal vehicles, which the company claims is an all-new way of using a brand new vehicle, without actually having to buy or own one.The offer begins at a subscription price starting from Rs 19,720 per month, inclusive of insurance and routine maintenance charges. With this, Mahindra & Mahindra said that it has made the ownership experience of its vehicles more flexible, affordable and convenient.
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, the company said in a statement.
Veejay Ram Nakra, Chief of Sales and Marketing, Automotive Division, Mahindra & Mahindra, said, “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."
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. 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.
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 take 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.