This new end-to-end vehicle buying solution will not only be a major aid to new Uber drivers but, as mentioned earlier, will also add to the growth of Toyota's fleet car business. The new 90% on-road funding scheme will include everything right from vehicle cost, accessories, and service packages to registration, road tax, and insurance. That said, this will be a limited time scheme and will be applicable only till the end of this year i.e. 31st December 2016.
The Indian ride-hailing market is seeing a massive growth, especially with the growing number of smartphone and internet users, who are using ride-sharing services for the daily commute. As per reports, India's ride-sharing market is expected to be around $7 billion by 2020. This only means that there will be a major surge of car sales in the fleet vehicle market and an initiative like from Toyota will further boost this market in India.
Sharing his views on this new partnership with Uber, N. Raja, Director & Senior Vice President (Sales & Marketing), Toyota Kirloskar Motor, said, "Toyota Kirloskar Motor is pleased to announce this tie up with Uber, we believe the 90% on road funding scheme will lead to a positive growth in the ride-sharing market. This initiative is another step closer to changing the dynamics of mobility needs of an average Indian and we are glad to be part of it. Fleet operators across India today have understood the value proposition of Etios. Etios & Liva have set a safety benchmark in the industry standardising dual airbags and Anti-Lock Braking System (ABS) with Electronic Brake-force Distribution (EBD) across all grades."
On the other hand, Amit Jain, the President of Uber India said, "Toyota vehicles are among the most popular cars on the Uber platform worldwide. We are proud to partner with Toyota India to boost grassroots entrepreneurship."
