Pune: In a move aimed at boosting the accessibility of three-wheeler financing across India, Piaggio Vehicles Pvt Ltd (PVPL), a subsidiary of the Italian automotive leader Piaggio Group and a key player in India’s small commercial vehicle market, has partnered with Shriram Finance. The collaboration, marked by an official agreement signed by Amit Sagar, Executive Vice President of CV Domestic Business and Retail Finance at Piaggio Vehicles, and G.M. Gilani, Joint Managing Director of Shriram Finance, aims to provide affordable financing solutions for Piaggio’s three-wheeler vehicles.
Under the new partnership, Shriram Finance will roll out customized financing plans tailored specifically for Piaggio’s passenger and cargo three-wheelers. These plans include exclusive offers, lower down payments, and attractive interest rates, designed to make ownership more feasible for customers. In a pioneering move for the industry, the collaboration introduces special financing options for women entrepreneurs aspiring to own and operate commercial vehicles, encouraging them to pursue business opportunities in the sector.
The partnership also addresses the needs of migrant entrepreneurs who face challenges due to the lack of permanent address proof, offering them simplified and flexible loan documentation. Customers can avail themselves of loan tenures of up to four years, with down payments starting as low as INR 20,000-25,000, making the ownership of Piaggio three-wheelers a reality for many.
Amit Sagar expressed enthusiasm about the partnership, stating, “This is a strategic step towards enhancing financing options for our customers nationwide. We acknowledge the financing challenges faced by the industry, and through our collaboration with Shriram Finance, we aim to close that gap. Together, we can make Piaggio’s small commercial vehicles accessible to a wider audience, ensuring that our customers can drive home the Piaggio Apé of their choice without financial hurdles.”
Adding to this, G.M. Gilani from Shriram Finance said, “Piaggio’s Apé has been a trusted brand for over two decades in India, and we are proud to join hands with them. Our innovative financial solutions will make small commercial vehicles even more accessible, and we are committed to introducing more such initiatives in the future.”
This partnership reinforces Piaggio India’s ongoing commitment to making three-wheeler mobility solutions more affordable, paving the way for increased entrepreneurship opportunities and economic growth in the commercial vehicle sector across the country.
