Mahindra & Mahindra (M&M), an automobile company, in tie-up with self-drive car rental firm Revv has launched a subscription-based service for its passenger vehicles.
In the novel unique ownership model, the customers will be able to use a brand new car without having to buy it actually.
"With this flexible, highly affordable offering, we hope to help our customers fulfil their aspiration of driving their desired vehicles without necessarily owning them," said Veejay Ram Nakra, Chief of Sales and Marketing, Automotive Division, Mahindra & Mahindra.
"This in turn will also attract a whole new set of customers to brand Mahindra. It also aligns with our larger vision of transforming the face of mobility in India."
Subscription of vehicles is a business model wherein the subscriber pays for using a vehicle on a recurrent basis. With some of the vehicle subscription services, customer also gets insurance and maintenance while there are also other services that enable a customer to switch between vehicles during the subscription tenure. This is a new alternative to buying or leasing a vehicle and has emerged lately in the Indian shores.
The subscription service will be available on Mahindra's personal vehicle range that includes the KUV100, XUV500, XUV300, Scorpio, TUV300, Marazzo and Alturas G4.