Chennai, June 6 : CV makers Ashok Leyland today announced a strategic
partnership with Cholamandalam Investment and Finance Company Limited
(Chola), the financial services arm of Murugappa Group, to facilitate inventory
financing for the Ashok Leyland dealers.
In a bid to enhance operational capabilities, the new alliance aims to provide
130 Ashok Leyland dealerships nationwide with an array of comprehensive
inventory funding options to address their working capital requirements
effectively.
The Memorandum of Understanding (MoU) was signed by Mr.Amandeep Singh,
President LCV, International Operations, Defense & Power Solutions, Ashok
Leyland, and Mr. Ravindra Kundu, Executive Director, Chola.
This MoU will facilitate customised financing solutions for Ashok
Leyland’s dealers, wherein Cholamandalam will offer its range of
financial products to them across the country, Amandeep Singh said.
“Our dealerships are an essential touchpoint for our customers and
play a very key role in providing them with the best experience in
terms of sales and after sales support. Hence, it is imperative for
us to support them in maintaining a good inventory continuously”,
he said.
“By joining forces with Cholamandalam, a trusted partner renowned
for tailored dealer financial solutions, our expanded nationwide
presence will instill unwavering trust in our dealerships across
diverse markets, encompassing urban and rural areas alike”, he
added.
Mr.Ravindra Kundu said “we are delighted to strengthen the partnership
with Ashok Leyland. We are already in partnership with them for providing
customised finance solutions for the buyers of Ashok Leyland’s vehicles.”
“With our strong network of 1191 branches across India, we now aim to
offer Ashok Leyland’s dealers a never before experience through customised
finance offerings in maintaining the company’s inventory in their respective
dealerships”, he said.
The Sales & Marketing teams of Cholamandalam and Ashok Leyland will
work together to develop joint marketing and financing programs for mutually
furthering the volumes of business, he said. (Agencies)
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