Yes, You read it right. Approximately 50% of subscriptions to the Maruti Suzuki Subscribe program were registered in the current financial year, demonstrating the program's extraordinary growth. Maruti Suzuki Subscribe, which was founded in July 2020, is celebrating the milestone of 10,000 new car subscription sales, further solidifying its subscription program and indicating an increasing demand for customized car purchasing options. This highlights Maruti Suzuki's dedication to providing cutting-edge mobility solutions that meet changing customer demands.
What is Maruti’s car leasing Subscribe Program?
Maruti’s dedication and affection towards its customers' choices and benefits drove them to introduce a subscription program in July 2020. With Maruti Suzuki's "Subscribe" car leasing program, consumers can rent Maruti Suzuki vehicles without having to buy them outright. Benefits from this program include no resale risk, insurance coverage, zero down payment, 24/7 roadside assistance, and complete auto maintenance. Additionally, roadside assistance with pan-India coverage is offered by Maruti Suzuki's leasing partners, which include ALD, Orix, and Myles. By 2022, the program had over 1600 participants and had spread to several Indian cities, such as Mumbai, Chennai, and others.
Subscription growth and numbers
Maruti Suzuki Subscribe, which is currently available through five partners, saw 5,000 new users sign up in the most recent fiscal year and experienced an astounding 44% increase in FY23–24 YTD over FY22–23 YTD.
Senior Executive Officer of Marketing and Sales at Maruti Suzuki India Limited, Shashank Srivastava, commented on the achievement, saying, "Since its launch, the Maruti Suzuki Subscribe program has steadily been gaining acceptance among Indian buyers who prefer flexible buying and ownership experience. In the nation, the car subscription model is progressively gaining traction, and the majority of our clients are from Bangalore, Hyderabad, Chennai, Delhi-NCR, Mumbai, and Hyderabad. Remarkably, in the current financial year, more than half of all Maruti Suzuki Subscribe customers were added.”
Remarkably, customers who chose a tenure period of three to four years accounted for more than 65% of the subscriptions. This further demonstrates how modern consumers who value flexible ownership options are beginning to embrace the subscription model.
Maruti Suzuki also disclosed that the most popular models under the Subscribe program—representing more than 53% of all subscriptions—were the Baleno, Brezza, Grand Vitara, and Ertiga. Customers who chose more flexible vehicle ownership options accounted for about 65% of the subscriptions, with terms ranging from three to four years.
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