Mahindra has announced the official launch of its leasing and subscription business ‘Quiklyz’. The brand introduced the new business under Mahindra & Mahindra Financial Services Limited (Mahindra Finance/ MMFSL). Mahindra Finance/ MMFSL is part of the diversified Mahindra Group. The new vertical will put Mahindra on the map of a new-age digital platform for vehicle leasing and subscription. Through the latest leasing and subscription business, Mahindra will offer the customers convenience, flexibility and choice.
Quiklyz allows customers to access a new car without the hassles of new car ownership. The brand offers the first of its kind digital journey on car usership. The company reveals that it takes care of registration, insurance, scheduled and unscheduled maintenance, roadside assistance etc. The brand has announced that in the initial phase, Quiklyz will launch its services in metro cities.
These include cities like Bengaluru, Chennai, Delhi, Gurugram, Hyderabad, Mumbai, Noida, Pune. In addition to this, Quiklyz will further expand it to other cities across India soon. These will include tier-II cities, covering 30 locations. The brand plans to expand to new cities in the next one year. The company is also in discussions with several other automotive OEMs for leasing and subscription partnerships.
The Quiklyz will be available for both corporate (B2B) and retail (B2C) customers. The Company aims to offer services to corporates and fleet operators under the B2B segment. Under the B2C segment, the company aims to target customers with the millennial mindset. The brand revealed that the brand would cover vehicles across all significant auto OEMs, with a wide range of choices in terms of vehicle models, variants and colours.
Quiklyz will offer its customers benefits such as zero Down Payment and lower monthly outflow vs loan. The brand also provides no uncertainty on vehicle maintenance costs, resale price etc., offering the vehicle with a fixed monthly fee. The customer also gets a white number plate & RC book in the individual’s name and no resale or maintenance hassles. Customers also get Return/Extend/Buy/Upgrade options at the end of tenure.
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