New MoU to Enhance Car Loan Accessibility for Customers
New Delhi, March 8 – Maruti Suzuki India Limited (MSIL), the country’s largest car manufacturer, has entered into a strategic partnership with Hero FinCorp Limited to expand vehicle financing solutions. The two companies signed a Memorandum of Understanding (MoU) on Saturday, aiming to offer tailored financial solutions for both new and used car loans.
The collaboration will leverage Maruti Suzuki’s extensive dealership network and Hero FinCorp’s customized financing options, making car ownership more accessible for a broader range of customers.
Strategic Alliance to Benefit Customers Nationwide
In an official statement, MSIL announced that the partnership was formalized in the presence of senior executives from both organizations, including:
✔ Partho Banerjee, Senior Executive Officer, Marketing & Sales, Maruti Suzuki India
✔ Kamal Mehatta, Vice President, Allied BUSINESS, Maruti Suzuki
✔ Vishal Sharma, General Manager, Maruti Suzuki Finance & Driving School
✔ Abhimanyu Munjal, Managing Director & CEO, Hero FinCorp
The MoU is expected to enhance accessibility to car loans and streamline financing processes for customers across urban and rural markets.
Key Highlights of the Partnership
✔ Expanded Loan Offerings – Customers can avail flexible car loan options with competitive interest rates for both new and pre-owned vehicles.
✔ Wider Dealer Network Access – Maruti Suzuki’s nationwide dealership network will integrate Hero FinCorp’s financing services for seamless customer experience.
✔ Innovative & Transparent Financing – Tailored solutions will make car purchases more affordable and convenient.
✔ Digital & Hassle-Free Process – The financing process will be simplified and customer-friendly, ensuring quick approvals and minimal paperwork.
Industry Leaders Speak on the Collaboration
Partho Banerjee, Senior Executive Officer, Marketing & Sales, Maruti Suzuki, highlighted the importance of this collaboration, stating:
“Partnering with Hero FinCorp allows us to offer innovative, transparent, and customer-centric financing solutions that cater to the growing demand for car loans. Our goal is to make car ownership more accessible and financially viable for all segments of society.”
Abhimanyu Munjal, MD & CEO, Hero FinCorp, emphasized their commitment to empowering customers with flexible financial solutions, stating:
“Through this partnership, we aim to offer seamless and affordable vehicle financing, ensuring that more people can fulfill their dream of owning a car.”
Maruti Suzuki Strengthens Customer-Centric Initiatives
With the rising demand for car loans, Maruti Suzuki continues to expand its financing options through strategic collaborations. The partnership with Hero FinCorp reinforces the company’s commitment to financial inclusion, making car purchases more accessible to a diverse customer base.
This initiative is expected to boost vehicle sales, especially in tier-2 and tier-3 cities, where customers often seek reliable financing options to fund their purchases.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.