Okinawa partners with OTO Capital to introduce easy vehicle leasing facility to customers
Mumbai, 21st September 2020: Okinawa- Indian electric two-wheeler brand has partnered with OTO Capital to provide buyers with flexible leasing options to own electric two wheelers. The leasing period can range from 12 months to 36 months.The facility will be available across Okinawa dealerships in Bangalore and Pune, and will further be expanded pan India in the coming months. This also comes as an advantage for customers booking their vehicle through online platform of Okinawa, who can now easily avail flexible financing option sitting safe in the comfort of their home.
Further to the partnership, buyers, can lease an Okinawa vehicle for a minimum of 12 months, after which they get the additional benefit of upgrading to any other model of different style and make. The partnership will also allow customers to save up to 30 per cent every month by paying OTO ownership monthly installments compared to other financing options. For example, the Okinawa Praise Pro would cost INR 3960/month over a period of 2 years through a traditional bank loan, but with OTO financing, buyers have to pay only INR 2950/month over the same time, making it a cost-effective solution.
“Okinawa has witnessed an upsurge in demand post the ease of lockdown. After COVID 19 outbreak, people are avoiding public transport and opting for personal vehicles. This has resulted in a visible hike in the sales of electric vehicles. The government has also introduced new policies to make electric vehicle affordable for customers. Okinawa’s tie up with OTO Capital is another step by the company on the same lines. The idea is to work together with the industry players and the government to accomplish the larger aim of E- mobility,” said Mr. Jeetender Sharma- MD and Founder, Okinawa.
Commenting on the tie up, Sumit Chhazed- Co-founder, OTO Capital said, “We are happy to welcome Okinawa onboard as our partner. The EV market is at the precipice of change. The younger buyers who are owning their first vehicle want to buy electric, and they want it at an affordable cost. Our financing will bring down the cost of owning an EV significantly so that people can save more and spend less on monthly EMIs. The auto industry is coming out of the slump and we hope that the festival offers and online purchasing will attract more customers.”
After the ease of lockdown, Okinawa resumed operations and retailed over 1000 units within a month, with only 25 per cent of the dealerships open. The brand aims to sell over 40,000 units this financial year. It works through a network of over 350 dealerships pan India and is on aggressive expansion spree.