German luxury car maker Mercedes-Benz is preparing to commence leasing vehicles to consumers in the Indian market by the end of this year. No other luxury car maker in the country currently offers vehicles on lease directly to customers.
It would first lease Mercedes cars to companies. Eventually, when the venture reaches a certain size, Mercedes-Benz India (MBI) would look at offering vehicles on lease to individuals as well.
Dealers would purchase cars from the company and then lease the vehicles to corporate houses for a particular period. At the end of the lease period when the vehicles are returned to the dealers’ car pool, they would be sold in the pre-owned car market through the company’s ‘Proven Exclusivity’ programme. The details of the business model for the new venture are being prepared. Mercedes is the largest dealer of pre-owned vehicles globally and has 35,000 cars on Indian roads at present.
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