Volkswagen India has announced signing a memorandum of understanding (MoU) with Orix to provide Indian consumers with a subscription-based automobile ownership model. In the first phase, VW will provide its subscription-based ownership option at 30 Mumbai, Ahmedabad, Chennai, Pune, Hyderabad, Bengaluru, and Delhi-NCR locations.
Customers who choose the subscription option will receive a normal ‘white’ number plate on their vehicle. The Polo starts at 16,500 Rs, the Vento at 27,000 Rs, and the T-Roc at 59,000 Rs, with a lease term of 24, 36, or 48 months. Finance, maintenance, and insurance will all be included in the monthly rents.
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ORIX Auto Infrastructure Services Ltd, or OAIS, will assist with the activities. “Car subscription is growing popularity, especially amongst the urban young middle class, searching for a comfortable ownership experience,” stated Ashish Gupta, Brand Director, Volkswagen Passenger Cars India, in response to the news.
We are happy to expand our collaboration with ORIX and strengthen our leasing and subscription platform, which will focus on offering accessibility and peace of mind ownership experience to our prospective clients to cater to the demands of this customer group.” From September 2021, Volkswagen India raised the pricing of the Polo and Vento models in India.
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The costs of the Polo hatchback and the Vento sedan will rise by up to 3% and 2%, respectively, depending on the model. However, Volkswagen India has clarified that the price increase would not apply to the Polo GT version. The new rates were effective on September 1, 2021.