Toyota Kirloskar Motor announced a partnership with Uber, the ride-hailing app to offer end-to-end vehicle buying solutions for driver partners operating on the Uber platform. Through this partnership Toyota’s Financial arm, Toyota Financial Services India Ltd. (TFSIN) will provide 90% on-road funding on Etios and Liva models for first time drivers, further reinforcing its association with Uber ensuring best-in-class products are easily affordable to first time buyers. The 90% on-road funding scheme encompasses a complete package of vehicle cost, accessories, service packages, registration road tax and insurance. The scheme will be applicable till the end of this year till December 2016. With this initiative the world class product of Toyota will easily be affordable for the Uber Driver Partners which will further add to the growth of the mobility business.
The unique scheme, which has been rolled out across all dealerships across the country, will provide best-in-class service standards with priority processing for Uber drivers. Etios has been very successful in the people mover segment where vehicles are preferred only for their quality, durability and reliability, a testimony to its build quality and strength. The excellent overall ownership cost value proposition compared to other vehicles makes it most economical and well appreciated by customers.
The Indian ride-hailing market is burgeoning with growth in smartphone and internet users using ride-sharing services for daily commute. As per reports, India’s ride-sharing market is expected to be around $7 billion by 2020.
Toyota Kirloskar Motor has collaborated with Uber offering major support to first time drivers on the Uber Platform through this scheme. This initiative will further boost this market in India with the best on road funding scheme which will ensure that customers can easily buy Toyota products which have set a safety benchmark in the industry.
Speaking on the tie-up, Mr. N. Raja, Director & Senior Vice President (Sales & Marketing), Toyota Kirloskar Motor Pvt. Ltd said, “Toyota Kirloskar Motor is pleased to announce this tie up with Uber, we believe the 90% on road funding scheme will lead to a positive growth in the ride-sharing market. This initiative is another step closer to changing the dynamics of mobility needs of an average Indian and we are glad to be part of it. Fleet operators across India today have understood the value proposition of Etios. Etios & Liva have set a safety benchmark in the industry standardizing dual airbags and Anti-Lock Braking System (ABS) with Electronic Brake-force Distribution (EBD) across all grades.”
Mr. Tomohei Matsushita, MD & CEO, Toyota Financial Services India Ltd. “TFSIN is committed to support Toyota customers in India. Uber being an important partner, we are delighted to support the tie-up and are willing to deliver best-in-class products and services to Uber.”
Speaking on this partnership, Uber India President, Amit Jain said, “ Toyota vehicles are among the most popular cars on the Uber platform worldwide. We are proud to partner with Toyota India to boost grassroots entrepreneurship.”
The scheme will be applicable till December 2016, across India.
Overview of TKM
|Company name||Toyota Kirloskar Motor Private Limited|
|Equity participation||TMC: 89%, Kirloskar Group: 11%|
|Number of employees||Approx. 7, 000 +|
|Land area||Approx. 432 acres (approx.1,700,000 m2)|
|Building area||74,000 m2|
|Total Installed Production capacity||Upto 3,10,000 units|
Overview of TKM 1st Plant:
|Established||October 1997 (start of production: December 1999)|
|Products||Innova, Fortuner manufactured in India.|
Prado, Land Cruiser and Prius imported as CBUs.
|Installed Production capacity||Upto 1,00,000 units|
Overview of TKM 2nd Plant:
|Start of Production||December 2010|
|Location||On the site of Toyota Kirloskar Motor Private Limited, Bidadi|
|Products||Corolla Altis, Etios, EtiosLiva, Etios Cross, Camry & Camry Hybrid|
|Installed Production capacity||Upto 2,10,000 units|