New Delhi, March 8, 2019 – Hyundai Motor India Ltd (HMIL), the country’s second largest car manufacturer and the largest exporter since inception today announced the launch of ‘Hyundai Subscription’. This Industry First exclusive strategic partnership of Hyundai with Revv will provide an opportunity to the customers to experience Hyundai product portfolio, with hassle free ownership, flexibility and limited commitment through Subscription Based Ownership Model. The pilot project to kick-start in Q1 2019 will be available across six cities namely Delhi NCR , Mumbai, Kolkata, Pune, Bangalore and Hyderabad.
Hyundai Subscription provides the customers to opt for flexible ownership plan that includes subscription for short term / long term, swap across Hyundai range and can easily avail it under zero down payment, No insurance / maintenance for short subscription, including an assured-on demand delivery. Customers opting for one-year subscription or more will get an assured new car.
Commenting on the announcement Mr. SJ Ha, Senior Director, Sales & Marketing, Hyundai Motor India Ltd, “We are extremely excited about the Indian mobility landscape currently and foresee great prospects. This strategic alliance will provide a unique opportunity for today’s millennial customers to experience Hyundai’s diverse product offerings that blend with their personality. With our deep understanding of Indian consumers and progressive tech-driven mobility solutions, we aim to forge a new market for the New Age Indians.”
Commenting on this launch, the Revv Founders commented “We are very excited about launching India’s first exclusive car subscription program, along with Hyundai. This is an innovative offering, which will change the way people access mobility in the future. This also helps to deepen our relationship with our strategic partners – Hyundai. As one of India’s leading car sharing companies, we will continue to innovate, and create newer offerings for our customers.”
The shared mobility space is evolving at an exponential rate, from USD 900 million in 2016 to USD 1.5 billion in 2018, it is projected to expand to USD 2 billion by 2020. India’s 15,000 car sharing vehicles are expected to grow to 50,000 by 2020, and 150,000 by 2022. Currently, millennials, who are substantial users of car sharing services, comprise 35 percent of the total population of India.Hyundai has been enhancing its mobility services in major locations worldwide and is committed to offering smarter value to customers to cope with the rapidly-shifting paradigm in the automotive industry.