Shared mobility platform Revv on Friday announced the launch of first multi-brand car subscription platform Switch to enable users to subscribe to vehicle on annual or monthly basis, instead of buying or renting it.
A unique service that lets users subscribe to a car, Switch is designed to be flexible with features including subscription for users as per their needs. Easy switch off whenever required.
It allows users to switch between car models, e.g. using a hatchback for daily purpose, and an SUV for vacations.
However, the user can maintain and use his subscription across cities.
The annual subscription starts at Rs. 22,000 per month. Unlike the down-payment that is required while buying the car (often 10-30 percent of the car's price), there is no large upfront expense involved. Insurance and maintenance are also included, to make it hassle-free.
"The users will have ample choice, with seven different pricing plans covering 14 car models. This will include MUVs, SUVs, cross-overs, sedans and hatchbacks. The plans can cater to varied budgets and requirements," said co-founders Anupam Agarwal and Karan Jain.
With presence in nine cities, Revv offers users:
-travelling professionals can subscribe for the few months when they are in town
-a family can subscribe during summer vacations, or during their kids' examinations, or for any medical situations that may need regular support
-a group of friends can share the subscription and split costs. With two
people sharing, it comes to just around Rs. 450 per day for each. And they can drive a different car every month
-corporates can provide it to their mobile employees (e.g., people on outstation projects, expats), or as part of their employee perks and engagement, at 50 to 60 percent lower cost than traditional car rentals
-prospective car buyers can test out multiple car models before committing to one
Adding to this, both Anupam and Karan believe that the company has grown 150 percent in the last six months, and is aiming heights as it is increasing its fleet by another 30 percent for Switch.
"We believe there is large unmet demand for a service like this. It addresses a large gap that has been left open by traditional car ownership, and can shape entirely new consumer habits," they added.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)