Toyota's Innovative Lease/Subscription Deals in India
Responding to Escalating Demand for Private Vehicles
|Source: Toyota Yaris |
Avoiding Public Transport in COVID World
Toyota is rolling out new leasing and rental programs in India in response to accelerating global demand for private vehicle transportation. The big question is this a prototype that Toyota will expand globally. In our COVID plagued world, people want to avoid public transportation - be it trains, buses, subways or planes. Toyota announced today its new, flexible leasing and shorter term subscriptions options.
Low Cost Leases
The Japanese automaker is offering 3 to 5 year leasing plans to corporate and retail customers across the portfolio of its vehicles for as low as $281.00 per month. The demand for leases and rentals is growing and Toyota says for customers it's more cost effective than buying a car. Toyota is focusing on the lower end of the market where the numbers are biggest and demand is rapidly accelerating.
Making Money in a COVID World
As carmakers look to boost revenues during the pandemic, Toyota's competitors like Hyundai have formed partnerships to offer similar services in India. Toyota has not indicated if it will roll out the leasing and rental programs globally. But if it proves successful in India, there is a good chance that it will.