Focus on semi urban and rural market
New Delhi, March 10, 2008: Maruti Suzuki India Limited, the country’s largest car maker today announced their pact with Shriram City Union Finance Limited - a part of Shriram Group, Chennai, to offer easy, transparent and hassle-free car finance to its customers, particularly in semi urban and rural markets.
The agreement is a joint initiative of the two companies to provide competitive car finance to people in Tier-II and Tier-III cities across the country. The tie-up would focus on financing of entry level cars from Maruti portfolio: M800, Omni and Alto models. Initially, this arrangement will be available in Kerala, Karnataka, Tamilnadu and Andhra Pradesh.and subsequently extended countrywide.
The agreement was signed by Ms. Subhasri Sriram, Executive Director, Shriram City and Mr. R. S. Kalsi, Chief General Manager (Sales) Maruti Suzuki in presence of senior officials from the two companies.
Speaking on the occasion, Mr. R. S. Kalsi, Chief General Manager (Sales), Maruti Suzuki said: “Maruti Suzuki is keen to expand its presence in rural and semi urban markets. We have the right products and an excellent network across the country to support it. However there is still lot to do in direction of finance availability especially beyond metro towns. We are happy that Shriram Group has agreed to be our partner in offering transparent, hassle free finance options to our countryside customers.”
Ms. Sriram, Executive Director, Shriram City Union said: “This is a big day for Shriram City as we sign the agreement with Maruti Suzuki, the country’s largest car manufacturer. Shriram City has aggressive plans to enter into four-wheeler financing solutions. At the onset of this association we have allocated Rs. 1,000 Cr for 4-wheeler financing. We look forward to our association with Maruti Suzuki to be of advantage to customers as well as both companies.”