Suzuki Motorcycle India ties up with Standard Chartered Bank for dealer finance

Scooter and motorcycle OEM to provide wholesale funding and customised solutions to its dealer partners for vehicles and spare parts.

By Autocar India News Desk & Ajit Dalvi calendar 15 Mar 2023 Views icon3224 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp

Suzuki Motorcycle India, the two-wheeler subsidiary of Suzuki Motor Corporation, has inked an MoU with Standard Chartered Bank to provide wholesale funding to its dealer partners for vehicles and spare parts.

The move is aimed at supporting Suzuki Motorcycle India's dealer partners across India and enable them to expand their businesses and enhance their operations.

 Devashish Handa, Executive Vice-President, Sales, Marketing and Aftersales, Suzuki Motorcycle India, said, "We are delighted to partner with Standard Chartered Bank to provide our dealer partners with access to funding that will help them grow their businesses. We are committed to support our dealer partners so that they can meet their financial requirements."

Chandandeep Kaur, Regional Head Global Subsidiaries, India and South Asia, Corporate, Commercial and Institutional Banking, India, Standard Chartered Bank, said, “At Standard Chartered Bank, we are committed to supporting businesses in India by providing them with the necessary financial tools and developing customised eco-system solutions to drive their strategic growth. We truly believe that this partnership will aid in unlocking options and providing these dealer partners with exciting possibilities of transforming their businesses and enhancing their operational capabilities."

Suzuki Motorcycle India, which started operations from its 750,000 units-per-annum plant in Gurugram, Haryana, has sold a total of 657,687 two-wheelers – 639,449 scooters and 18,238 motorcycles – in the first 11 months of FY2023, up 18% year on year (April 2021-February 2022: 559,094) and currently has a market share of 4.51% in the Indian two-wheeler market. Of the two sub-segments, Suzuki has a 13.45% share of the scooter market and 0.19% of the motorcycle market.

ALSO READ: February 2023 auto retails rise 16%, all five segments record double-digit growth ahead of festive March

Hero MotoCorp appoints Niranjan Gupta as CEO

auther Autocar Pro News Desk calendar30 Mar 2023

India’s two-wheeler market leader elevates Chief Financial Officer, Head - Strategy and M&A to CEO, effective May 1; Dr....

Tiago EV bats for Tata IPL 2023 as official partner

auther Autocar Pro News Desk calendar30 Mar 2023

Tata Motors to leverage the platform of the Indian Premier League to increase awareness of EVs, while also batting big f...

Altigreen delivers 200 fast-charging e-three-wheelers to B2B, B2C customers

auther Autocar Pro News Desk calendar30 Mar 2023

EV OEM makes its largest single-day delivery to customers in Bengaluru including Buy 2 Coffee, Fyn Mobility, DCO, Mother...