<p>Toyota Motor Corp will offer its cars in India on leases or shorter-term subscriptions, hoping to tap growing demand for private transport as travellers cut down on communal journeys in the Covid-19 pandemic.</p>.<p>The Japanese automaker said on Tuesday it would offer leasing plans to corporate and retail customers of three to five years across its portfolio of cars - including the Glanza hatchback, Yaris sedan and Fortuner sport-utility vehicle - for as little as 21,000 rupees ($281) a month.</p>.<p>Naveen Soni, senior vice president, sales and service at the carmaker's India unit, said the need for safe transport was growing and leasing or subscription models offered a more cost-effective solution than buying a car.</p>.<p>So far, leasing and subscription services in India have largely focussed on the higher end of the auto market and therefore make up a fraction of the overall numbers, said Soni.</p>.<p>"The lower end of the market is where the bulk is," he said, adding that was where Toyota would also focus.</p>.<p>Toyota's competitors in India, such as Maruti Suzuki and Hyundai Motor Co, have formed partnerships to offer similar services, as carmakers look to boost revenues amid the pandemic.</p>.<p>Toyota's India unit has formed a separate team to drive the business and it will partner with its Japanese parent's global mobility services brand, KINTO, as well as ALD Automotive and SMAS Auto Leasing.</p>
<p>Toyota Motor Corp will offer its cars in India on leases or shorter-term subscriptions, hoping to tap growing demand for private transport as travellers cut down on communal journeys in the Covid-19 pandemic.</p>.<p>The Japanese automaker said on Tuesday it would offer leasing plans to corporate and retail customers of three to five years across its portfolio of cars - including the Glanza hatchback, Yaris sedan and Fortuner sport-utility vehicle - for as little as 21,000 rupees ($281) a month.</p>.<p>Naveen Soni, senior vice president, sales and service at the carmaker's India unit, said the need for safe transport was growing and leasing or subscription models offered a more cost-effective solution than buying a car.</p>.<p>So far, leasing and subscription services in India have largely focussed on the higher end of the auto market and therefore make up a fraction of the overall numbers, said Soni.</p>.<p>"The lower end of the market is where the bulk is," he said, adding that was where Toyota would also focus.</p>.<p>Toyota's competitors in India, such as Maruti Suzuki and Hyundai Motor Co, have formed partnerships to offer similar services, as carmakers look to boost revenues amid the pandemic.</p>.<p>Toyota's India unit has formed a separate team to drive the business and it will partner with its Japanese parent's global mobility services brand, KINTO, as well as ALD Automotive and SMAS Auto Leasing.</p>