Maruti Suzuki announces its new partnership with the Bank of Maharashtra. Under this new MoU, the Bank of Maharashtra will offer inventory financing to MSIL dealers. The bank’s Mahabank Channel Financing scheme will provide all the comprehensive financing opportunities for MSIL’s dealer partners throughout the country.
This is a long-term plan which will ultimately help the dealer partners to grow their business. Dealers can now consolidate their entire business to provide one-stop services under supply chain finance. MSIL will also benefit from this initiative as it will improve the brand’s market penetration across the country. Maruti Suzuki has the largest market share, and initiatives like these will further help in expanding its customers base.
The Mahabank Channel Financing scheme has a vast 2,000 branch network across the country with a customer base of over 29 million. Alongside this, the bank also claims to offer the most competitive price, thus making it much more lucrative when compared to other banks. For a seamless and worry-free experience, the bank is offering convenient re-payment tenures. All the transactions are digitized, thus improving the transparency and flexibility to a great extent. Initiatives like these do help both the customers and dealers in many ways.
Maruti Suzuki sold a total of 1,47,368 cars in June 2021. The demand is slowly picking up pace as the market opens after two long months of lockdowns. The company has also announced that it has extended the free service and warranty period up to July 31, 2021. To help customers with their purchases, Maruti Suzuki is also offering various online Smart Finance options. This will enable the customer to finance their cars online, anywhere, and anytime. This fully digitized service also helps the customers to browse through various plans, thus offering full flexibility. To date, MSIL has confirmed that they have received inquiries from over 25 lakh customers.