Toyota has introduced a new mobility brand in Europe named Kinto in opposition to the rise of leasing companies and likewise to organize for the arrival of robotaxis.
Kinto bundles together services Toyota already runs or trials in Europe into four classes: leasing, short-term leases, automobile pooling, and subscription services.
Kinto One renews Toyota’s fleet leasing activities and appears to increase the corporation’s full servicing lease package, which it currently presents in Spain, France, Italy, and the UK.
Toyota is responding to the growth of leasing by backing new cars in Europe. The method is rising in popularity at the expense of traditional hire buy as leasing corporations start to move away from their conventional corporate purchasers to target private clients.
As part of its expansion, Toyota purchased the UK leasing unit of Inchcape for 100 million pounds in October 2019.
As soon as Toyota controls the leasing, it could possibly begin to offer additional services, including those bundled into the Kinto brand.
Toyota has put a “substantial amount” in Kinto, Toyota’s mobility chief, Ian Fux, stated at the launch of the service in Amsterdam on January 15.
Fux was previously head of the now renamed Toyota Fleet Mobility before being promoted in December.
Leasing will give Toyota an essential experience for when autonomous technology makes self-driving vehicles possible.
Toyota will deploy its E-Palette autonomous shuttle for limited journeys at this Olympic Games in Tokyo.