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The initiative allows a customer to use a brand-new car without actually owning it, by just paying an all-inclusive monthly fee that comprehensively covers maintenance, roadside assistance and insurance for the complete tenure.

At the same time, export sales rose by more than 31 per cent to 9,938 units from 7,561 units in December 2019, it said on Friday.

In order to accommodate the rising commodity prices and input cost, major carmakers have announced a price hike in the range of 3-6 per cent

Around 10.25 a.m., Sensex was trading at 46,206.80, higher by 200.11 points or 0.43 per cent from its previous close of 46,006.69.

The company is initially launching the platform in 30 cities through its premium car retail chain Nexa, targeting salaried customers with plans to expand its mass market chain Arena.

During the second quarter, the performance improved on the back of some demand recovery and gradual improvement in supply conditions, the auto major said.

"Baleno helped us bring new customers to the Maruti Suzuki family," said Shashank Srivastava, Executive Director (Marketing & Sales), Maruti Suzuki India.

The Japanese carmaker finally unveiled the production version of the car after months of teaser images and specs. This is the company’s first ever product under the Nissan Next strategy for the Indian market