Ashok Leyland, one of India’s leading commercial vehicle manufacturers has inked a strategic partnership with Cholamandalam Investment and Finance Company (Chola), the financial services arm of Murugappa Group to facilitate inventory financing for its dealer partners.

The new alliance aims to provide 130 Ashok Leyland dealerships across the country with an array of inventory funding options to address their working capital requirements effectively.

The Memorandum of Understanding (MoU) was signed by Amandeep Singh, President LCV, International Operations, Defence & Power Solutions, Ashok Leyland, and Ravindra Kundu, Executive Director, Cholamandalam Investment and Finance Company.

Amandeep Singh said, “Our dealerships are an essential touchpoint for our customers and play a very key role in providing them with the best experience in terms of sales and after sales support. Hence, it is imperative for us to support them in maintaining a good inventory continuously. By joining forces with Cholamandalam, a trusted partner renowned for tailored dealer financial solutions, our expanded nationwide presence will instil unwavering trust in our dealerships across diverse markets, encompassing urban and rural areas alike.”

Ravindra Kundu said, “We are already in partnership with them for providing customised finance solutions for the buyers of Ashok Leyland’s vehicles. With our strong network of 1,191 branches across India, we now aim to offer Ashok Leyland’s dealers a never before experience through customised finance offerings in maintaining the company’s inventory in their respective dealerships.”

As per the understanding, the Sales and Marketing teams of Cholamandalam and Ashok Leyland will work together to develop joint marketing and financing programs for mutually furthering the volumes of business.

Courtesy: Manufacturing Today, FE, ET Auto, APN News. Outlook India