Adds shorter subscription periods of 12 & 18 months besides flexibility in selecting annual running kilometre usage
Bangalore, October 8, 2020: Toyota Kirloskar Motor (TKM) today announced a tie-up with Myles Automotive Technologies Pvt Ltd to expand its car subscription service for individual customers in Delhi NCR, Mumbai and Bangalore. TKM offers a white-board subscription program in India through a newly launched vertical, Toyota’s Mobility Service (TMS) that will spearhead all mobility initiatives in India.
With the collaboration with Myles, TKM also announced steps to provide more convenience to customers with the introduction of shorter subscription periods of 12 and 18 months. Thus, customers can now choose from flexible subscription tenures of 12, 18, 24, 36 or 48 months and annual running kilometre usage for a fixed monthly rental through Myles. The monthly rental includes vehicle usage cost, road tax, registration, insurance coverage and maintenance for kilometres opted and 24×7 roadside assistance that will be handled by Myles in association with TKM dealers.
The monthly rental varies depending on the model, kilometres opted and the tenure, for instance, subscription rental in Delhi will start as low as INR 19,808 for Toyota Glanza and INR 45,721 for Innova Crysta. The TKM-Myles subscription service provides tenure extension and buy-back options to customers. Customers can choose new cars in multiple colour options from Toyota’s range of products like Glanza, Yaris, Innova Crysta, Fortuner and the recently launched Urban Cruiser.
Offering her views, Ms.Sakshi Vij, Founder and CEO, Myles Automotive Technologies, said, “The tie-up with TKM is an important one for us considering the increasing customer aspiration to drive a Toyota vehicle, many of which are iconic and enjoy segment leadership over the years in the Indian market. Together, we aim to cater to the rapidly rising demand for personal transportation.”
Commenting on the tie-up with Myles, Mr. Naveen Soni, Senior Vice President, Sales and Service, TKM, said, “We have been experiencing good response for our subscription service since the launch in August this year. We are optimistic that the tie-up with Myles will provide the subscription service further impetus. We look forward to delighting customers together with Myles by offering wider choice and ease of availing the service.”
“The initial signs have been good – customers are choosing the subscription service as it offers a hassle-free experience and greater convenience. There is a higher aspiration to experience the Toyota Fortuner and Innova Crysta through subscription as well leasing. We are witnessing good traction for Glanza too from younger customers. Overall, we are happy with the customer response and we have plans to soon expand to other cities like Pune, Hyderabad and Chennai.”
TKM had earlier announced partnerships with its existing brand KINTO under Toyota Financial Services, ALD Automotive India and SMAS Auto Leasing India Pvt Ltd for providing leasing and subscription service to corporate and individual customers.
For more information on TKM’s subscription service, customers can visit https://www.toyotabharat.com/mobility-solutions/
About Myles:Myles Automotive Technologies has operations in over 21 cities in India. It has serviced over 200,000 customers till date. It aims at providing the most flexible, affordable and accessible car ownership solutions to Indians through its automated Car sharing and Car subscription platform. Its technology platform enables customers across the country to have a car for the duration they like and within the budget they have.
Overview of TKM:
| Company name | Toyota Kirloskar Motor Private Limited |
| Equity participation | TMC: 89%, Kirloskar Systems Limited (Mr. Vikram S. Kirloskar): 11% |
| Number of employees | Approx. 6,500 |
| Land area | Approx. 432 acres (approx.1,700,000 m2) |
| Building area | 74,000 m2 |
| Total Installed Production capacity | Up to 3,10,000 units |
Overview of TKM 1st Plant:
| Established | October 1997 (start of production: December 1999) |
| Location | Bidadi |
| Products | Innova, Fortuner manufactured in India. Vellfire imported as CBU |
| Installed Production capacity | Up to 1,00,000 units |
Overview of TKM 2nd Plant:
| Start of Production | December 2010 |
| Location | On the site of Toyota Kirloskar Motor Private Limited, Bidadi |
| Products | Toyota Yaris, Camry Hybrid |
| Installed Production capacity | Up to 2,10,000 units |
For any further queries, please contact:
| Toyota Kirloskar Motor Pvt. Ltd. | Current Global |
| Ananya Bhattacharjee | Kaveri Mandanna Email:KMandanna@CurrentGlobal.com |
