Maruti Suzuki India Ltd is exploring the possibility of entering the vehicle leasing business for its retail customers, said two people aware of the company’s plans.
The plan has been in the works for about a year and is being spearheaded by a special projects team of the company, the people said requesting anonymity.
India’s largest car maker will follow some of its closest rivals such as Hyundai Motor India Ltd and Mahindra and Mahindra Ltd (M&M), who already offer their vehicles on lease.
Maruti’s vehicle leasing model would, however, vary from the others considering it plans to tap its large countrywide dealership network for the business expansion.