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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  ORIX Corporation    8591   JP3200450009

ORIX CORPORATION

(8591)
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Maruti Suzuki Subscribe expands to Mumbai, Chennai, Ahmedabad and Gandhinagar

11/24/2020 | 10:19am EST

New Delhi : After the successful launch of Maruti Suzuki Subscribe in major cities like Delhi-NCR, Bangalore, Hyderabad, and Pune, the Company has now expanded and launched 'Subscribe' in four more cities - Mumbai (including Navi Mumbai and Thane), Chennai, Ahmedabad and Gandhinagar. Maruti Suzuki has partnered with ORIX Auto Infrastructure Services India, a subsidiary of ORIX Corporation, Japan to introduce the service for individual customers in these four cities.

The unique initiative - Maruti Suzuki Subscribe - allows a customer to use a brand-new car without actually owning it. The customer needs to pay an all-inclusive monthly fee that comprehensively covers maintenance and insurance for the complete tenure.

Users can opt from a wide range of new Maruti Suzuki cars offered under Maruti Suzuki Subscribe namely - Swift, Dzire, Vitara Brezza, and Ertiga from Maruti Suzuki ARENA and Baleno, Ciaz, and XL6 from NEXA. Maruti Suzuki Subscribe offers the car in white number plate (registered in the name of customer) in these cities.

Announcing the Company's customer-centric approach, Mr. Shashank Srivastava, Executive Director (Marketing and Sales) Maruti Suzuki India Limited, said, 'The Maruti Suzuki Subscribe program has received encouraging response from the customers. We have received over 6,600 enquiries in the first few months of pilot launch. We are delighted to introduce the program in Mumbai, Chennai, Ahmedabad and Gandhinagar. The Maruti Suzuki Subscribe program comes with a bouquet of benefits like flexible tenure, zero down payment, insurance and complete maintenance. The program also provides the customers with peace of mind with 24x7 roadside assistance and customer support. We are aiming to introduce the Maruti Suzuki Subscribe program in 40-60 cities over a period of 2 to 3 years.'

Explaining the partnership, Mr. Sandeep Gambhir, MD and CEO ORIX India, said, 'Subscription, which started as a new concept a few months back as an initiative driven by Maruti Suzuki and ORIX India, is gaining lot of momentum if one looks at the initial trends. We are confident that with the flexibility Subscription provides to customers, in addition to convenience and a hassle free experience, it will surely find a lot of takers in the post pandemic fast changing world of mobility. We are witnessing an increased need from customers to have personalized and customized solutions and flexible ownership options as against the traditional ways of owning cars, and Subscription does just that. We are very excited to partner with Maruti Suzuki to take this journey ahead and open up a whole new world of possibilities for Maruti Suzuki's prospective customers.'

Monthly subscription charges for Swift LXI for a tenure of 48 months:

After the completion of subscription tenure, the customer can also opt to extend, upgrade the vehicle, or buy the car at market price.

Issued by:

Corporate Communications,

Maruti Suzuki India Limited,

1, Nelson Mandela Road,

Vasant Kunj, New Delhi

Ph: 91-11- 4678 1000

Email: corp.comm@maruti.co.in

Twitter: @Maruti_Corp

Website: www.marutisuzuki.com

(C) 2020 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
MARUTI SUZUKI INDIA LTD -1.39% 7870.9 Delayed Quote.4.34%
ORIX CORPORATION 0.17% 1737 End-of-day quote.9.62%
SUZUKI MOTOR CORPORATION 0.77% 5137 End-of-day quote.7.42%
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Financials
Sales 2021 2 158 B 20 718 M 20 718 M
Net income 2021 204 B 1 960 M 1 960 M
Net Debt 2021 6 766 B 64 962 M 64 962 M
P/E ratio 2021 10,5x
Yield 2021 4,61%
Capitalization 2 061 B 19 809 M 19 792 M
EV / Sales 2021 4,09x
EV / Sales 2022 3,95x
Nbr of Employees 31 233
Free-Float 94,9%
Chart ORIX CORPORATION
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ORIX Corporation Technical Analysis Chart | 8591 | JP3200450009 | MarketScreener
Technical analysis trends ORIX CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 1 750,00 JPY
Last Close Price 1 693,50 JPY
Spread / Highest target 29,9%
Spread / Average Target 3,34%
Spread / Lowest Target -25,0%
EPS Revisions
Managers and Directors
NameTitle
Makoto Inoue President, Group CEO & Director
Hitomaro Yano Executive Officer & General Manager-Finance
Eiko Tsujiyama Independent Outside Director
Yuichi Nishigori Director & Senior Managing Executive Officer
Nobuaki Usui Independent Outside Director
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