Maruti Suzuki, Union Bank of India Partner for Dealer Financing

28 Feb 2024 , 11:05 AM

On Tuesday, Maruti Suzuki India announced that it and Union Bank of India had signed a preliminary agreement for dealer financing options. According to a statement from the automaker, the partnership improves the extensive inventory financing choices for more than 4,000 Maruti Suzuki sales outlets nationwide. 

Senior Executive Officer (Marketing & Sales) at MSI (Maruti Suzuki India) Shashank Srivastava stated that the carmaker takes great care in fostering its dealer network.

‘We proactively align our efforts in meeting the evolving demands of customers and the market,’ he stated.
Since2008, the company and Union Bank of India have worked together to develop a collaboration that has progressively progressed and, according to Srivastava, has enabled the processing of over 3,00,000 auto loan cases to date. 

‘As a next milestone of our association, we are entering into an inventory funding Memorandum of Understanding (MoU) which will focus on innovative financing solutions for dealer partners,’ he stated.

A Manimekhalai, Managing Director & CEO of Union Bank of India, stated that the bank’s extensive array of offerings is designed to assist dealers throughout their whole 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 stated. 

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