Toyota Kirloskar Motor Pvt. Ltd. recently announced the signing of a Memorandum of Understanding (MoU) with Mahindra & Mahindra Financial Services Ltd. to extend auto retail finance to their prospective customers. Mahindra & Mahindra Financial Services Ltd. will be one of the preferred financiers for the entire range of vehicles sold by Toyota Kirloskar Motor Private Limited (TKM). The MoU was signed by Mr. Rajnish Agarwal – Vice President Operations, Mahindra & Mahindra Financial Services Limited and Mr. Sailesh Shetty, Vice President, Sales & Dealer Development, Toyota Kirloskar Motor.
Commenting on this occasion, Mr. Rajnish Agarwal – Vice President Operations, Mahindra & Mahindra Financial Services said, “Our wide network of 640+ offices and customer presence in more than 1,50,000 villages across India, gives us an edge in reaching out to the deepest parts of the country. We have a customer centric approach and have developed loan products suitable for all profiles of customers. This ability also will create strong synergies.”
Also speaking on the occasion, Mr. N. Raja, Senior Vice President, Sales & Marketing, Toyota Kirloskar Motor said, “We are pleased to announce this partnership with Mahindra & Mahindra Financial Services as our customers will greatly benefit with the competitive rates and convenient locations that Mahindra & Mahindra Financial Services is present in. Even though the overall auto market seems to be challenging at the moment, we have seen a surge for automobile loans in semi urban and rural areas and we hope this new association of ours will help us reach out to more prospective customers. This is the right time for us to step up our efforts to reach out to more customers with better and easier finance options.”