Toyota introduces new car leasing & subscription Program through new platform called TMS

Toyota Kirloskar Motor has launched an all-new car leasing and subscription program in India through a new vertical called Toyota's Mobility Service (TMS). This subscription program will help the company's future mobility initiatives in the country.

To start with, this car leasing and subscription program will be available in cities like Delhi-NCR, Bangalore and Mumbai. the company has said that it will gradually expand it to ten more cities within the first year. Toyota will also partner with existing Brand "KINTO" under Toyota Financial Services, ALD Automotive India & SMAS Auto Leasing India Pvt Ltd.

Commenting on the launch, 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 further stated.