India’s top car maker Maruti Suzuki India Ltd has signed a Memorandum of Understanding (MoU) with Cholamandalam Investment and Finance Company Ltd (Chola), the financial services arm of Murugappa Group, to facilitate inventory financing for its dealer partners.
The new alliance will help more than 3,600 Maruti Suzuki dealerships across the country with comprehensive inventory funding options for their working capital requirements, according to a statement.
“We have worked closely with Cholamandalam in developing personalised offers and end-to-end working capital solutions for our dealer partners across the country,” said Shashank Srivastava, Senior Executive Officer, Marketing & Sales, Maruti Suzuki India Ltd.
“With our strong network of 1,191 plus branches across India, we aim to offer the dealers customised finance packages,” said Ravindra Kundu, Executive Director, Cholamandalam Investment and Finance Company Ltd.