Toyota Kirloskar Motor launches an all-new Mobility Service from Toyota in India
- Offering both corporate leasing & individual subscriptions to its customers
• Toyota’s Mobility Service – a new initiative by Toyota Kirloskar Motor, to offer leasing and subscription service
• Phase wise launch of leasing& subscription service across major cities; to start with Delhi NCR, Bangalore and Mumbai in the first phase & top ten cities within the first year
• Customer convenience as corporates can choose vehicles of their choice for a tenure of three to five years on a fixed monthly fee
• For subscription, customers can opt for short term usage of 24 months to 48 months
Bangalore, August 18, 2020: Toyota Kirloskar Motor (TKM) today announced the launch of its all-new car leasing & subscription program in India through a new vertical, Toyota’s Mobility Service (TMS) that will spearhead TKM’s future mobility initiatives in India. To start with, Toyota’s Mobility Service will provide leasing and subscription to customers in cities like Delhi-NCR, Bangalore and Mumbai & gradually expand it to ten more cities within the first year. To start with, TKM will partner with existing Brand “KINTO” under Toyota Financial Services, ALD Automotive India & SMAS Auto Leasing India Pvt Ltd.
Under this new initiative, customers can pick cars of their choice for a tenure of three to five years on a fixed monthly fee on lease. The monthly fee will be inclusive of vehicle maintenance, insurance and roadside assistance. For subscription, customers will have the flexibility to opt for short-term usage of 24 months to 48 months. Car leasing & subscription gives the convenience of ownership with added flexibilities. It also gives the customer to choose from a variety of products that TKM offers in India, including the Glanza, Yaris, Innova Crysta, Fortuner and the soon to be launched, Urban Cruiser.
Commenting on the launch, Mr. Naveen Soni, Senior Vice President, Sales and Service, TKM, said, “The automotive industry globally is experiencing a ‘once-in-a-century’ profound transformation and it is imperative that we as automobile manufacturers, transform ourselves from a traditional car company to a mobility company. Be it product or services, as a customer-centric company, it has always been our endeavour to introduce products and services in line with the evolving customer needs. The role of Toyota’s Mobility Service is aimed at providing one such solution catering to emerging mobility needs of the customers. Both leasing and subscription are expected to grow significantly in the coming years. In time, we want to provide all possible models of mobility service by working closely with our corporate, fleet customers and subscribers to understand their needs and offer customized and futuristic solutions such as Mobility-as-a-Service and connected cars.
However, there is a need to create more awareness among customers as they may not be cognizant of the many benefits. For instance, customers may not be aware that they can lease new vehicles as per their preferences – models, variants, maintenance packages. Further, the main advantage of corporate leasing is that it enables tax merit for corporate employees”, he continued.
We would like to follow the changing customer behavior in the country wherein customers prefer ‘using a car’ rather than ‘owning a car’ due to the prevailing circumstances. Globally too, there is a growing trend wherein leasing and subscription business has matured and is seen as the stepping-stone for the introduction of futuristic mobility solutions.
For more information, customers can log onto: https://www.toyotabharat.com/mobility-solutions/
About KINTO: As the global brand for mobility services of Toyota, KINTO would like to make the brand promise to provide Ever Better Mobility for All. KINTO will exude Fun and be Simple to use, Flexible and Accessible, so customers can access its mobility services anywhere and anytime. KINTO was launched in India in 2019 as Full Service Leasing for corporate customers provided by Toyota Financial Services India Ltd (TFSIN), and aim to provide more variety of mobility services under the name of KINTO to meet Indian customer expectation. TFSIN, is the Indian subsidiary of Toyota Financial Services Corporation (TFSC) which is a wholly owned subsidiary of Toyota Motor Corporation (TMC), Japan.
About ALD Automotive India: With a fleet of about 15,000 vehicles, ALD Automotive India is one of the leading vehicle leasing and fleet management companies in the country. Established in 2005, the Mumbai-headquartered company is the operational leasing and fleet management business line of the Société Générale Group. It has direct presence in Mumbai, Delhi, Hyderabad, Chennai, Pune and Bengaluru and operational reach across 22 States and three Union Territories catering to more than 900 corporate customers in over 280 locations with 2,200 service partners across India.
Overview of TKM:
Company name Toyota Kirloskar Motor Private Limited
Equity participation TMC: 89%, Kirloskar Systems Limited (Mr. Vikram S. Kirloskar): 11%
Number of employees Approx. 6,500
Land area Approx. 432 acres (approx.1,700,000 m2)
Building area 74,000 m2
Total Installed Production capacity Up to 3,10,000 units
Overview of TKM 1st Plant:
Established October 1997 (start of production: December 1999)
Products Innova, Fortuner manufactured in India.
Vellfire imported as CBU
Installed Production capacity Up to 1,00,000 units