Mahindra partners Quiklyz to offer vehicles on lease

Mahindra Automotive has announced its association with Quiklyz, a new age vehicle leasing and subscription platform of Mahindra Finance.

As per the arrangement, Quiklyz will now be available live on Mahindra auto’s portal and across Mahindra dealership network. This partnership will allow customers to lease Mahindra vehicles in a transparent and hassle-free manner.

Quiklyz will offer convenience, flexibility, and choice to customers across eight Indian cities including Mumbai, Pune, Delhi, Noida, Gurgaon, Bangalore, Hyderabad and Chennai. The monthly rentals for vehicles will start at Rs 21,000 per month, inclusive of insurance, maintenance, roadside assistance with no additional down payment. The customer will have choice of tenure between 24 months to 60 months as well as have the flexibility to select annual kilometre options starting with 10,000 km/year.

Veejay Nakra, CEO, Automotive Division – Mahindra & Mahindra said, “The pay per use model has been specifically designed keeping in mind the changing customer needs. Offering leasing options to customers through our sales channels will provide customers with flexibility and transparency in a simple and convenient manner. They will be able to choose their preferred vehicles with the option to return, buy back or upgrade to a newer model at the end of the tenure. Quiklyz will help us target and leverage the potential of India’s expanding car leasing market, further broadening our consumer portfolio.”

Raul Rebello, COO - Core Business, Mahindra Finance said, “ The leasing and subscription module in India is currently at a nascent stage and coupled with the multi-faceted advantages accruing from Mahindra’s auto sector, our spread and reach all-India would be an advantage. ”.

Turra Mohammed, SVP and business head – Quiklyz said, “Vehicle leasing and subscription are becoming a new normal and cost-effective means of accessing a vehicle. The Leasing and Subscription Industry is expected to grow at CAGR of 15-20% in the next 5-10 years making it one of the fast-growing markets in India. We are delighted to offer the complete range of SUVs from Mahindra on leasing through a digital platform. Our aim is to build a strong foothold in this market and further bolster Quiklyz’s brand presence”.