Mahindra Finance ‘Quiklyz’ brand in vehicle leasing, subscription business
Date: 16 Sep 2021
& Mahindra Financial Services Limited (MMFSL/Mahindra Finance), part of the
Mahindra Group, has announced its entry into the leasing and subscription
business. The new vertical would operate under the brand name ‘Quiklyz’,
denoting the changing mindset on mobility.
the process of owing a vehicle at an inflection point, consumers today want to
access vehicles earlier in their life and upgrade their vehicles faster than
ever before. Leasing and Subscription model offered by ‘Quiklyz’ provides
exactly that; where consumer pays a monthly fee to access the vehicle of their
choice across all car brands, at a lower price point vs. regular car ownership.
and businesses are also looking for alternate ways to have access to vehicles
which can match their requirements without the burden of traditional ownership
name ‘Quiklyz’ denotes an aspirational mindset of ensuring hassle free vehicle
usership to its consumers. The objective for ‘Quiklyz’ is to build a nimble
model with very high asset quality. This also gives the brand a springboard to
launch similar products in semi-urban and rural markets in times to come.
on the new business initiative, Ramesh Iyer, Vice-Chairman & Managing
Director, Mahindra Finance noted, “With ‘Quiklyz’, we aim to make the process
of ownership convenient for our consumers both for individual and corporate
segments alike. I am confident ‘Quiklyz’ will add substantial value to our
existing financial business portfolio as we aspire to tap all emerging
opportunities in this space”.
Mohammed, SVP & Head, Leasing & Subscription, Mahindra Finance
mentioned, “A very important set of consumers for our new business will be the
millennials who aspire to not only owning a vehicle, but to do so in a
hassle-free manner. ‘Quiklyz’ will provide that convenience while allowing them
to frequently change or upgrade to newer models entering the market without any
down payment. For corporates as well, leasing is fast emerging as a viable
option both for providing cars to their employees and obtaining vehicles for
their business use”.
Finance and Mahindra Group ecosystems would give an edge to ‘Quiklyz’ with the
business utilizing all common infrastructure of Mahindra Finance.