Maruti Suzuki collaborates with Union Bank for dealer financing

29 Feb 2024 CW Team

Maruti Suzuki India announced that it had entered into an initial agreement with Union Bank of India for dealer financing solutions. According to a statement from the automobile giant, this collaboration expands the range of inventory funding options for more than 4,000 Maruti Suzuki sales outlets nationwide.

Shashank Srivastava, Senior Executive Officer (Marketing & Sales) at Maruti Suzuki India, expressed the company's commitment to nurturing its dealer network. He stated, "We proactively align our efforts to meet the evolving demands of customers and the market."

Srivastava highlighted the progressive nature of the partnership with Union Bank of India, dating back to 2008. He noted that the collaboration has achieved a significant milestone by facilitating over 3,00,000 car finance cases to date. Looking ahead, he mentioned, "As the next milestone in our association, we are entering into an inventory funding Memorandum of Understanding (MoU), focusing on innovative financing solutions for dealer partners."

A Manimekhalai, Managing Director & CEO of Union Bank of India, emphasised that the bank's comprehensive range of products and services is designed to support dealers at every stage of their business journey. "By providing timely access to flexible financing options, we empower dealers to optimise their operations, enhance their competitiveness, and unlock new growth opportunities," he added.

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