Ashok Leyland Partners With ICICI Bank

Ashok Leyland strategically joins hands with ICICI Bank.

Of late, we can see the Commercial Vehicle manufacturers partner with finance companies and banking companies to effectuate the sales. Muthoot Fincorp is one such example to be quoted. Ashok Leyland signed Memorandum of Understanding (MoU) with ICICI bank to strategically partnering for two years. The Hinduja group company eyes on the perfect environment and gearing up for the change, the company said in a regulatory filing. This is going to enable both the partners alongside the customers. Both the partners are planning to build tailor-made solutions for the customers across the country.

It is believed that after BS-VI norms, a lot of changes might happen. The cost of the vehicles will also go up to a considerable extent. Well, in advance, every stakeholder, including the customers, are informed about this. But the phase is not experienced yet, and it has created swerves. The buying plan of commercial vehicles also is reserved as the vehicles now are BS-IV compliant. Infrastructure developments are also in full swing pushing the demand for commercial vehicles. Hence these kinds of strategic alliances will invigorate the sales and benefit the partners. Customers also look forward to bespoke solutions for their changing needs.

"With Pan India presence, both the companies can leverage their strengths for the mutual benefit of their customers," said Ashok Leyland Chief Operating Officer, Anuj Kathuria. "The company brings forth technology-led speedy credit and other financial solutions for the fleet owners to facilitate the commercial vehicle buy," said Ravi Narayanan, ICICI Bank Head – Secured Assets. Also, able to source customer credentials and could offer more related products to the customers. The whole gamut of banking products and services will help not only the customers of Ashok Leyland but also the dealers.