Ashok Leyland targets buyers in semi-urban, rural India, HDFC Bank to offer customised finance

Ashok Leyland today signed an 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 customised financial solutions to customers across India, with a specific focus on customers in semi-urban and rural areas.

HDFC Bank will work in close coordination with the commercial vehicle manufacturer’s authorised dealers to provide financial solutions to customers. Ashok Leyland, which has readied its complete range of vehicles for compliance with BS VI emission norms, is aggressively targeting sales in different parts of the country.

Commenting on the partnership,  Anuj Kathuria, Chief Operating Officer, Ashok Leyland, said, “Customers will be benefitted with preferred product and financial solutions from both the organisations. The joint initiative will enable both 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 solutions, our combined all-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.”

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.”