Toyota India today announced the signing of a Memorandum of Understanding (MoU) with India’s leading banking platform, the UCO Bank. This partnership will benefit customers from not only Tier I markets, but across all States and Union Territories, and a with higher focus on Tier II & Tier III markets.
Through its foray into the A&B-segment with new model launches like the Cool New Glanza, Urban Cruiser and the recently unveiled Urban Cruiser Hyryder, TKM has had a sustained focus on expanding its footprints across India with special focus on Tier II & III markets. This new tie-up will fortify TKM’s efforts to enhance value-added offerings for customers based in Tier II & III markets. Thereby, also ensuring customers’ easy accessibility to the complete range of vehicles sold by Toyota Kirloskar Motor in India.
For Toyota, the offers go beyond purchase of just new vehicles to cover used cars as well as service packages thus creating overall positive buying and ownership experience of Toyota cars.
Mahindra also entered into a partnership with leading public sector lender UCO Bank, which will enable the company to offer attractive financing options to its SUV customers. The tie-up will allow Mahindra to leverage UCO Bank’s exhaustive network of over 3,000 branches, extending the reach of its financing options to passenger vehicle customers across the country. As part of the agreement, UCO Bank will offer credit to prospective car owners at attractive rates of interest, high LTV and without any pre-payment charges for Mahindra customers.