MFTBC and FUSO Financial launch FUSO Mileage Lease, the first “pay-as-you-drive” program in Japan & Asia

First in Japan & Asia: flexible lease fee based on traveled distance. FUSO’s connectivity technology Truckonnect® supports the new leasing structure by monitoring traveled distance in real time

Mitsubishi Fuso Truck and Bus Corporation (MFTBC; Headquarters: Kawasaki City, Kanagawa Prefecture; President and CEO: Hartmut Schick) and FUSO Financial, Mercedes-Benz Finance Co., Ltd, (FUSO Financial; Headquarters: Shinagawa-ku, Tokyo; President and CEO: Andreas Lehr) will start the FUSO Mileage Lease program in Japan from July 1st, 2021. FUSO Mileage Lease will be the first “pay-as-you-drive” leasing program in Japan and the Asia region. With driving distances recorded in real time through MFTBC’s telematics technology “Truckonnect®,” monthly leasing bills can be adjusted accordingly, to match customer needs. The new program provides customers a higher level of financial flexibility, which can be crucial in challenging times such as the current COVID-19 pandemic.

In conventional leasing contracts, the regular payments are fixed at an agreed fee. FUSO Mileage Lease changes the status quo with a fee structure that consists of an adjustable, mileage-dependent bill that is combined with fixed monthly charge.

For working vehicles such as trucks, driving distances are directly correlated with business demand. In other words, sales of logistics providers are generally higher in months where longer distances are covered. FUSO Mileage Lease allows businesses to save on leasing fees during slower months, thereby offering customers better control over their operational costs.

FUSO Mileage Lease is supported by Truckonnect®, MFTBC’s connectivity platform. With the consent of subscribed customers, Truckonnect® acquires real-time information from vehicles in operation, and keeps a record on a cloud-based databank. With Truckonnect®, MFTBC can accurately grasp the monthly mileage of running vehicles, allowing FUSO Financial to calculate the customized lease fee immediately.

As the global economic situation and the demand for ground logistics remain in flux in light of the novel coronavirus, truck operators are required to respond flexibly and promptly to unpredicted circumstances. MFTBC and FUSO Financial introduce this new FUSO Mileage Lease program as a business solution for customers requiring greater control and more financial options during challenging times.

“Mileage lease received many positive comments from customers and dealers during the pilot. It perfectly fits to our VUCA world and can give a peace of mind to many truck customers whose business is also changing month to month, not only due to changing economy but also due to pandemic” – Pawel Paluba, Sales & Marketing Director, FUSO Financial

SOURCE: Mitsubishi Fuso Truck and Bus Corporation (MFTBC)

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