Mahindra Finance launches Quiklyz car leasing, subscription business

    Car subscription is increasingly gaining popularity among millennials as conventional vehicle owning patterns are changing.

    Published On Sep 21, 2021 09:00:00 AM

    53,128 Views

    Mahindra Finance launches Quiklyz car leasing, subscription business

    Mahindra & Mahindra Financial Services Limited, part of the Mahindra Group, has entered the leasing and subscription business with a newly constituted entity called Quiklyz. The subscription business model allows customers to access passenger vehicles of choice across brands for a certain monthly fee.

    • Lower price point against regular car ownership
    • Targeted at individuals, corporates and businesses
    • Similar services to be launched in semi-urban and rural markets in the future

    Quiklyz subscription business: what is it?

    The Quiklyz leasing and subscription model sees the consumer pay a monthly fee to access the vehicle of their choice across all car brands, and at a lower price point versus regular car ownership. Mahindra Finance is also targeting corporates and businesses who are also looking for alternate ways to have access to vehicles that can match their requirements without traditional ownership models.

    Turra Mohammed, SVP and head, leasing and subscription, Mahindra Finance, said, “A very important set of consumers for our new business will be the millennials who aspire to not only owning a vehicle, but to do so in a hassle-free manner. Quiklyz will provide that convenience while allowing them to frequently change or upgrade to newer models entering the market without any down payment. For corporates as well, leasing is fast emerging as a viable option, both for providing cars to their employees and obtaining vehicles for their business use”.

    Upcoming launches from Mahindra

    Having showcased its new XUV700 flagship model in all its glory on August 15, Mahindra will soon be announcing the prices of the entire range. The Mahindra XUV300 will also be updated with a new 1.2-litre mStallion turbo-petrol engine in the coming days. Following that, the next major launch from Mahindra in India will be the all-new Scorpio that’s expected to arrive some time next year.

    Also see:

    Pratap Bose talks about Mahindra's new logo

    Mahindra XUV700 variants – what features do you get?

    Mahindra Cars

    Copyright (c) Autocar Professional. All rights reserved.

    Comments
    ×
    img

    No comments yet. Be the first to comment.

    Ask Autocar Anything about Car and Bike Buying and Maintenance Advices
    Need an expert opinion on your car and bike related queries?
    Ask Now
    Search By Car Price
    Poll of the month

    The Mahindra Scorpio N prices are very close to those of the XUV700. Which Mahindra SUV would you buy?

    Scorpio N

     

    37.73%

    XUV700

     

    62.27%

    Total Votes : 3968
    Sign up for our newsletter

    Get all the latest updates from the automobile universe