Maruti Suzuki India on Wednesday partnered with HDB Financial Services, a non-banking financial company (NBFC), to facilitate customized car loans for customers, for both new and used cars.
The car major has a network of 3,066 new car retail outlets across 1,953 cities and towns. The auto major also has 569 outlets of pre-owned car retail channel True Value in over 280 locations. With the current MoU signed, Maruti Suzuki India now has a retail finance tie-up with 26 banks, 7 NBFCs and 8 regional rural banks. The announcement was made after trading hours yesterday, 4 March 2020.HDB Financial Services, established in 2007, is a subsidiary of HDFC Bank. It has a network of over 1,425 branches in 1,038 towns and cities.
Maruti Suzuki India's consolidated net profit rose 4.1% to Rs 1586.90 crore on a 3.8% rise in net sales to Rs 19,655.50 crore in Q3 December 2019 over Q3 December 2018.
Maruti Suzuki India (MSIL) is engaged in the manufacture, purchase and sale of motor vehicles, components and spare parts (automobiles). The other activities of the firm comprise facilitation of pre-owned car sales, fleet management and car financing.
Shares of Maruti Suzuki India were down 0.41% to Rs 6,358. The scrip hovered in the range of Rs 6,334.40 to Rs 6,444.95 so far.
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