New Delhi: Maruti Suzuki India Limited (MSIL) has expanded its capabilities not only in providing customer-centric products, but also in offering holistic services to customers with the aim of bringing Joy of Mobility to all. Backed by the assurance of over 25 million customers, the company’s value-adding initiatives such as Smart Finance, Subscribe and Rewards have seen remarkable growth thanks to strong customer adoption in FY23. These initiatives are constantly evolving to adapt to the changing needs of customers and to redefine the automotive experience for car buyers in India.
In the past fiscal year, Maruti Suzuki Subscribe saw 292% year-over-year growth in car subscriptions. To meet increasing demand, footprint has been expanded to 25 cities, with 5 leasing partners, 2 of these new leasing partners were added in FY2022-23. Maruti Suzuki Smart Finance, a digital platform for customers to avail finance, entered its third year of operation and has helped disburse over INR 52,000 worth of loans to over 8.3 lakh customers since its inception. The 100% digital, cardless customer loyalty program Maruti Suzuki Rewards celebrated its second anniversary with a customer base of more than 8.2 million members. Recently it has an exclusive cooperation with Indian Oil Company Ltd. (IOCL) launched to offer customers XtraRewards points for fueling at IOCL pumps. The company also launched a digital ecosystem for customers with digital car showrooms NEXAVerse and ARENAVerse to enable an immersive retail experience for its NEXA and ARENA showroom network.
Mr. Shashank Srivastava, Senior Executive Officer, Marketing & Sales, Maruti Suzuki India Limited, commenting on the ever growing relationship with their customers through various programs, saying, “Maruti Suzuki has been delivering the ‘Joy of Mobility’ to customers for over 4 decades now . The company has evolved over the years, be it with the products it offers or the services it offers to improve the customer experience. With customer-friendly initiatives such as Maruti Suzuki Smart Finance, subscription and rewards program, the company has set industry standards and increased customer confidence in the brand. I am pleased with the response these new initiatives have received from customers. With an increasing number of points of sale, digital platforms and groundbreaking products and services, Maruti Suzuki is confident that it will empower more people with new ways of car ownership.’
Maruti Suzuki Smart Finance
The company launched Maruti Suzuki Smart Finance in 2020 with the aim of providing easy and convenient car finance solutions. With 23 financiers on board, the platform has helped disburse over INR 52,000 worth of loans to over 8.3 lakh customers within 3 years of its launch. Smart Finance’s developed digital solution integrates car buying with the best financial partners in the country and allows customers to avail car financing easily and conveniently. Year-on-year, Maruti Suzuki Smart Finance has grown over 68% with a high volume of customers taking out auto finance.
Seven new PSU banks were integrated into the Smart Finance platform in FY22-23. Future plans include adding more financial partners in FY23-24 to offer customers a superlative digital marketplace experience.
Subscribe to Maruti Suzuki
Aiming to bring new car experiences to everyone, in 2020 the company launched Maruti Suzuki Subscribe, a unique initiative that allows a customer to enjoy a brand new Maruti Suzuki vehicle without owning it. Maruti Suzuki Subscribe is present in 25 cities across India and has five partners (Orix, ALD Automotive, Quiklyz by Mahindra Finance, Myles and SMAS) offering a range of Maruti Suzuki vehicles. The program has seen strong customer adoption and the company has recorded a total of 5,001 car subscriptions since its inception.
Maruti Suzuki Subscribe offers customers a complete ownership experience, including vehicle pricing, registration and RTO costs, insurance (new and renewal), service and maintenance, and roadside assistance. Customers choose from multiple term options at a fixed, all-inclusive monthly rental. Maruti Suzuki Subscribe offers unmatched convenience and flexibility for a hassle-free car ownership experience.
Maruti Suzuki Rewards
The Maruti Suzuki Rewards program is a fully digital loyalty program that offers customers a variety of delightful services by providing a premium, reliable and performance-driven after-sales experience. With a customer base of over 8.2 million, Maruti Suzuki Rewards offers a range of benefits when purchasing additional Maruti Suzukis – cars, insurance, genuine accessories, service, etc. Benefits are also granted for customer referrals who service a car at an authorized Maruti Suzuki service center .
Maruti Suzuki Rewards, one of India’s premier loyalty programs, comes in the form of the Maruti Suzuki Rewards mobile app (available for iOS and Android users) and the exclusive Maruti Suzuki Rewards website, which serve as a unified platform for customer retention and enrollment , fully integrated .
The Maruti Suzuki digital ecosystem
Maruti Suzuki has a robust, customer-centric digital ecosystem. The company has digitized 24 of the 26 steps involved in buying a car while empowering its ecosystem to adapt at the same time for a seamless end-to-end experience. After building its digital sales ecosystem, the automaker turned to strengthening its online customer experiences.
In doing so, the company extended its digital presence to the Metaverse by launching the NEXAVerse and ARENAVerse platforms for its NEXA and ARENA showroom network. Through this initiative, the company reaffirmed its position as a pioneer in the online automotive ecosystem by strengthening connectivity and improving accessibility for customers.
The company has equipped over 1,119 Maruti Suzuki ARENA and NEXA stores across India with Oculus devices. By integrating technological innovations with the vast network across India, Maruti Suzuki is now able to reach customers across geographical borders and time zones.
Issued by:
PR & Communication,
Maruti Suzuki India Limited,
No.1 Nelson Mandela Road, Vasant Kunj, New Delhi
Tel: 91-11-4678 1000 Email: corp.com[email protected] | Twitter: @Maruti_Corp | Twitter: @Maruti_Corp
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