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Maruti Suzuki and Union Bank of India Join Hands: A ‘Wheel’ Good Deal for Dealers

New Delhi, February 27, 2024: In what’s being touted as a ‘wheel’ good deal, Maruti Suzuki India Limited (MSIL) has rolled into a new partnership with Union Bank of India, aimed at turbocharging the financial engines of its extensive dealership network. The Memorandum of Understanding (MoU), signed with much fanfare, paves the way for innovative inventory funding solutions, revving up support for over 4000 Maruti Suzuki sales outlets across India.

The signing ceremony, a pit stop of finance and auto industry bigwigs, was graced by Shashank Srivastava and Nobutaka Suzuki of Maruti Suzuki, along with A Manimekhalai and her team from Union Bank of India, among others. This alliance marks a significant gear shift in Maruti Suzuki’s strategy, further fueling its commitment to a strong, well-oiled dealer network.

Srivastava, Maruti Suzuki’s Senior Executive Officer of Marketing & Sales, expressed enthusiasm about the partnership, highlighting its role in driving forward the company’s dealer network. He noted the long-standing relationship with Union Bank, which has seen over 300,000 MSIL car finance cases to date, and expressed confidence that this new MoU will steer the partnership to greater heights with cutting-edge financing solutions.

Meanwhile, Manimekhalai, the driving force behind Union Bank of India, shared her excitement about teaming up with one of the country’s leading car manufacturers. She emphasized the MoU’s role in providing a crucial lifeline of inventory funding to Maruti Suzuki’s sprawling dealer network, showcasing Union Bank’s commitment to fueling the growth and efficiency of businesses with innovative financial products.

This partnership signals a green light for Maruti Suzuki dealers, offering them a new lane of financial flexibility and support. It’s a strategic move that promises to keep the wheels of commerce spinning smoothly in the Indian auto sector.

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