Ashok Leyland partners with HDFC
Ashok Leyland, flagship of the Hinduja Group and one of the largest commercial vehicle manufacturers in India, today signed a Memorandum of Understanding (MoU), with HDFC Bank, for a strategic tie-up on vehicle financing, for a period of two years.This MoU will enable both Ashok Leyland and HDFC Bank to offer customized financial solution to customers across India, with a specific focus on semi urban and rural area customers.
With this MoU, HDFC Bank will be a preferred financier for providing finance to the customers buying Ashok Leyland vehicles. The Bank will work in close coordination with the authorized dealers of Ashok Leyland to provide financial solutions to the customers.Ashok Leyland, is the first manufacturer in India to be ready with the complete range of BS6 vehicles which have been developed specifically for Indian conditions and this tie-up will further help customers to own and derive the benefits of Ashok Leyland’s industry-first and industry leading technologies.
Commenting on the partnership, Mr. Anuj Kathuria, Chief Operating Officer, Ashok Leyland, said, “Customers will be benefitted with preferred product and financial solutions from both the organizations. The joint initiative will enable both the organizations to effectively leverage the combined strengths of Ashok Leyland’s best-in-class products and HDFC Bank’s significant distribution reach in India.With HDFC as one of our preferred partners for customised financial solution, ourcombined pan-India reach will help customers to choose the financial solution they desire. Ashok Leyland products represent differentiated technology with best-in-class total cost of ownership, thereby providing better profitability to our customers. Our tie-up with HDFC will further enhance this and thereby also delivering onour brand promise of ‘Aapki Jeet. Hamari Jeet’”.
Speaking on the partnership, Mr. Ashok Khanna, Group Head – Vehicle Loans, HDFC Bank,said, “This partnership is a win-win for both. At HDFC Bank, we take pride in offering our customers not just convenience but also an experience. Our customised product offerings are complemented by digital platforms and a wide network of branches thus enabling us to reach customers; be it in a metro city or semi-urban, rural location. Our endeavour is to bridge the Bharat-India divide by offering the entire bouquet of products and services to customers even in semi-urban and rural markets.”