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Last Updated : Sep 13, 2019 12:52 PM IST | Source: Moneycontrol.com

Want to drive a Mahindra SUV without buying it? Try SYouV

Customers can lease their choice of the vehicle after registration and payment of a refundable deposit.

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Acknowledging the rising popularity of subscription-based self-driving car rentals, Indian automobile manufacturer Mahindra has launched its own subscription-based service for private vehicles. Beginning service in eight major Indian cities, the company aims to let more people experience Mahindra SUVs without having a load of purchasing the vehicle.

Calling it Mahindra SYouV, the company has tied up with Revv to launch its service in Delhi (NCR), Mumbai, Pune, Bangalore, Hyderabad, Kolkata, Chandigarh, and Ahmedabad in the beginning. However, the company plans to extend its reach soon. This plan allows the user to lease a vehicle on a subscription basis with plans starting at Rs. 19,720 per month.

One of the most appealing factors of this service will be the absence of down payments, road tax, the tension of the vehicle’s resale value and post-sales overheads. The vehicle can be maintained by the leasee at regular servicing costs.

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Commenting on the launch, Veejay Ram Nakra, Chief of Sales and Marketing, Automotive Division, Mahindra & Mahindra Ltd. 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 fulfill 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."

Mahindra is offering its range of SUVs including the KUV100, TUV300, XUV300, Scorpio, Marazzo, XUV500 and the Alturas G4. Customers can lease their choice of the vehicle after registration and payment of a refundable deposit. It varies depending on the choice of the model and duration of lease. A new car can be leased for any time between one to four years, with the first month’s advance fee to be paid before delivery. The leasee can then continue to pay monthly as long as the vehicle is in their possession.

After the minimum subscription period, the customer can either swap the vehicle with a new one or purchase it from Mahindra at a predetermined price. The company has started this service in a bid to tackle the automotive slowdown and increasing costs.

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First Published on Sep 13, 2019 12:39 pm
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