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Maruti Suzuki India Limited said its value-added initiatives such as Smart Finance, Subscribe and Rewards have registered remarkable growth in FY23, adapting to the changing needs of customers and redefining the automotive experience for car buyers.
In the financial year gone by, Maruti Suzuki Smart Finance, a digital platform for customers to avail finance, entered its third year of operations and helped disburse over ₹52,000 crore worth of loans to over 8.3 lakh customers since inception.
The 100 per cent digital, cardless customer loyalty programme Maruti Suzuki Rewards, celebrated its second anniversary with its customer base reaching more than 8.2 million members, it said in a statement.
Recently, it rolled out an exclusive collaboration with Indian Oil Company Ltd. (IOCL) to offer XtraRewards points to customers refuelling at IOCL pumps. The company also introduced a digital ecosystem for customers with the NexaVerse and ArenaVerse digital car showrooms, to facilitate an immersive retail experience for its Nexa and Aena showroom network.
Read also: Maruti Suzuki India makes ‘digital’ a critical part of its business model
Similarly, Maruti Suzuki Subscribe registered a year-on-year (YoY) growth of 292 per cent in car subscriptions. Subscribe in 2020, a unique initiative that allows a customer to use a brand-new Maruti Suzuki vehicle without owning it.
Present across 25 cities pan-India, Maruti Suzuki Subscribe has five partners (Orix, ALD Automotive, Quickly by Mahindra Finance, Myles and SMAS) offering a range of Maruti Suzuki vehicles. The programme has witnessed strong customer acceptance and the company recorded cumulative retail of 5,001 car subscriptions since its initiation, it said.
“Maruti Suzuki has been delivering the ‘Joy of Mobility’ to customers for over four decades now. The company has evolved over the years, be it with the products that it offers, or the services it provides to enhance customer experiences. With customer friendly initiatives such as Maruti Suzuki Smart Finance, Subscribe and Rewards programme, the company has set a benchmark in the industry and strengthened the trust that customers have in the brand,” Shashank Srivastava, Senior Executive Officer, Marketing and Sales, MSIL said.
With an increasing number of sales outlets, digital platforms and path-breaking products and services, Maruti Suzuki is confident that it will be able to empower more people with new ways of owning a car, he added.
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