India's largest car maker, Maruti Suzuki India's value-added initiatives such as Smart Finance, Subscribe and Rewards have registered remarkable growth in FY23. In the financial year gone by, Maruti Suzuki Subscribe registered a YoY growth of 292 percent in car subscriptions.
Catering to rising demand, its presence was extended to 25 cities, with five leasing partners, of which two of these new leasing partners were onboarded in FY23. Maruti Suzuki Smart Finance, a digital platform for customers to avail finance, entered its third year of operations and helped disburse over Rs 52,000 crore worth of loans to over 8.3 lakh customers since inception. The 100 percent digital, cardless customer loyalty program Maruti Suzuki Rewards, celebrated its second anniversary with its customer base reaching more than 8.2 million members.
Recently, it rolled out an exclusive collaboration with Indian Oil Company to offer XtraRewards points to customers for refuelling at IOCL pumps. The Company also introduced a digital ecosystem for customers with the NEXAVerse and ARENAVerse digital car showrooms, to facilitate an immersive retail experience for its NEXA and ARENA showroom network.