Maruti Suzuki India announced on Friday that it is set to introduce a new financing scheme aimed at helping existing customers upgrade to their mid-sized SUV, the Grand Vitara. Customers interested in making the switch can take advantage of an attractive EMI of just Rs 9,999 per month for a brand new Grand Vitara—this is about 20 percent lower than what is typically offered through standard financing options, according to Partho Banerjee, Senior Executive Officer (Marketing & Sales) at Maruti Suzuki India. Customers will have the flexibility to return the vehicle to Maruti Suzuki after five years or 75,000 kilometers, benefiting from an assured buyback value of 50 percent of the vehicle’s cost. Additionally, there will be a buyback option available, Banerjee stated.
Initially, Maruti Suzuki will roll out this initiative in three cities: Delhi-NCR, Mumbai, and Bengaluru. Depending on the pilot's success and the insights gained, the company hopes to extend the scheme to other models, particularly the upcoming e-VITARA, Banerjee added.
Under the new scheme, when a customer chooses to upgrade to the Grand Vitara, their existing vehicle can serve as the down payment and will also qualify for an exchange bonus. Customers will only need to arrange financing for the remaining amount, which will then be split into monthly installments over a period of approximately five years, depending on the vehicle's exchange value and the financing needs, Banerjee noted.
On Friday, Maruti Suzuki also revealed that it has achieved a significant sales milestone, surpassing 300,000 units sold of the Grand Vitara in an impressive span of just 32 months.
Meanwhile, beginning on January 1, 2026, a new rule from the Commission for Air Quality Management (CAQM) will prevent cab companies, delivery businesses, and e-commerce companies in the Delhi-National Capital Region from adding any new petrol or diesel vehicles to their fleets. This rule applies to smaller delivery vehicles, light trucks, and motorcycles that are commonly used for deliveries.
ALSO READ: Govt incentivises local EV production with significant import duty cuts
Inputs from PTI