Hyundai announces collaboration with ALD Automotive for ‘Car Leasing’

Hyundai launches Hyundai Leasing in collaboration with ALD Automotive

Lease offering to be applicable for all Hyundai cars with No upfront cost, No Financial Risk, Tax Saving, Easy Up-gradation, No Maintenance

Hyundai Leasing service to be available in Delhi-NCR, Mumbai, Bangalore and Chennai in Phase I

New Delhi, March 16, 2019: Hyundai Motor India Ltd, the country’s first Smart Mobility Solutions Company and the largest exporter since inception, today announced a collaboration with ALD Automotive India, a globally renowned automotive leasing and fleet management company. The flexible leasing solutions will provide an attractive alternative to owning a car to salaried individuals, working professionals, small and medium enterprises, corporates and public sector. Hyundai Leasing will be available across Delhi NCR, Mumbai, Chennai, Hyderabad and Bangalore in the first phase.

The lease will be made available across the entire Hyundai product line-up at an extremely attractive monthly lease rental. The benefits of leasing to the customers include no upfront cost, no financial risk, efficient tax management, easy up-gradation and no maintenance and insurance hassles.   The leased vehicle will be available for a minimum period of 2 years going up to 5 years depending on the city and model selected.

Speaking on the Hyundai’s lease offering Mr. S.J. Ha, Executive Director, Sales & Marketing, Hyundai Motor India said, “Indian automotive industry is at the cusp of transformation. As a smart mobility solutions provider, we at Hyundai understand the needs of our evolving customers and are committed to make ‘Shared Mobility’ accessible. The vehicle leasing business is rapidly picking pace in India and offers great prospects. We are extremely happy with our collaboration with ALD Automotive and together we will leverage our strengths to create Unique, Smart and Brilliant ownership experience for our customers.”

Commenting on the announcement, Mr. Suvajit Karmakar, Chief Executive Officer & Whole-time Director, ALD Automotive India said, “We are extremely proud and excited to announce this partnership with Hyundai. I am confident that this association will make us explore newer product and service offerings and take Car Leasing to the next level in the Indian car market. This will further reinforce our position as a leader and we look forward to a mutually beneficial relationship with Hyundai.”

Currently car leasing business has a penetration of less than 1% in India, in developed nations it is as high as up to 45%. Hyundai has been expanding its mobility service solutions in major locations worldwide. The company is committed to offering smarter value to customers to cope with the rapidly-shifting paradigm in the automotive industry.

About HMIL

Hyundai Motor India Limited (HMIL) is a wholly owned subsidiary of Hyundai Motor Company (HMC). HMIL is the second largest car manufacturer and the number one car exporter since inception in India. It currently has nine car models across segments SANTRO, GRAND i10, ELITE i20, ACTIVE i20, XCENT, VERNA, ELANTRA, CRETA & TUCSON. HMIL’s fully integrated state-of-the-art manufacturing plant near Chennai boasts advanced production, quality and testing capabilities.

HMIL forms a critical part of HMC’s global export hub. It currently exports to around 91 countries across Africa, Middle East, Latin America, Australia and Asia Pacific. To support its growth and expansion plans, HMIL currently has 493 dealers and more than 1,310 service points across India. In its commitment to provide customers with cutting-edge global technology, Hyundai has a modern multi-million-dollar R&D facility in Hyderabad. The R&D centre endeavours to be a centre of excellence in automobile engineering.

About ALD Automotive:

With a fleet of more than 14,000 vehicles, ALD Automotive is one of the leading vehicles leasing and fleet management company in the country and is the operational leasing and fleet management business line of the Société Générale Group. Established in 2005, headquartered in Mumbai, it has direct presence in Mumbai, Delhi, Hyderabad, Chennai, Pune and Bengaluru and an operational reach in all the major cities across 22 States and 3 Union Territories in India. In the last decade, it has proved to be a leading player by setting an industry benchmark for professionalism, transparency and service delivery in India. It caters to more than 900 corporate customers in over 280 locations with 2078 service partners across India. Through these offices in India and through its supplier tie-ups across the country, it is able to service corporate vehicle requirements in any town or city within the country. It signed more than 5,000 new contracts in 2018 and sells 3,000 refurbished cars every year.

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