German automobile major Volkswagen has joined hands with ORIX to launch a new subscription-based model for cars in India. One can now own a Polo, T-Roc or a Vento, among other models of Volkswagen, by opting for a subscription plan instead of an outright purchase. The subscription model is fast catching up in India as many prefer not to own a car but opt for a lease.
The German auto giant will first launch this in 30 cities like Delhi, Mumbai, Pune, Ahmedabad, Bangalore, Chennai and Hyderabad. Later, the scheme will be expanded to other cities in a phased manner. Under this model, one can pay an all-inclusive monthly rental of Rs 16,500 for a Volkswagen Polo. The monthly subscription for Vento would cost Rs 27,000 and the same for T-Roc will come at Rs 59,000.
Under the all-inclusive monthly rental scheme, ORIX will cover the car’s 100 percent on-road financing, periodically maintain the car as per schedule and insure the vehicle as well. A customer who has chosen a car can later upgrade or return without any hassles. Customers also have the option to choose between a 24, 36 or a 48-month tenure.
Ashish Gupta, Brand Director, Volkswagen Passenger Cars India, at the time of the announcement said that car subscription in India is gaining popularity and the partnership with ORIX will further enhance the leasing and subscription platform.
The subscription-based platform has witnessed substantial growth in the past few months and with ORIX, Volkswagen has now become more accessible to their customers, Sandeep Gambhir, MD and CEO of ORIX added.
(Edited by : Shoma Bhattacharjee)