Mahindra & Mahindra on Wednesday launched a novel purchase scheme for its vehicles that allows retail buyers to keep models such as the Marazzo on lease for up to five years.

Besides the Marazzo, customers can lease models such as the KUV100, TUV300, Scorpio and XUV500.

This offering is targeted at working professionals and also SMEs.

In a statement, the homegrown auto maker said the leased vehicles will be available at a starting price of Rs 13,499 per month for the KUV100NXT and up to Rs 32,999 per month for the XUV500.

The scheme is now available in Delhi, Mumbai, Hyderabad, Bangalore, Ahmedabad and Pune, and the company plans to extend it to another 19 cities in the future.

“Our leasing model is a category creating product offering, which aims at bringing in a new class of customers, including professionals and small businessmen, among others. I am confident that leasing will gain more currency and the penetration levels will move in line with global trends,” V.S. Parthasarathy, group chief financial officer and chief information officer, M&M said.

The Telegraph