Ashok Leyland, the leading commercial vehicle manufacturer in India and a flagship company of the Hinduja Group, has announced a strategic partnership with Cholamandalam Investment and Finance Company Limited (Chola) to provide dealer financing solutions. This collaboration aims to support 130 Ashok Leyland dealerships across the country with comprehensive inventory funding options, enabling them to effectively address their working capital requirements. The partnership will enhance operational capabilities and provide customised financing solutions to dealers, strengthening their inventory management and customer support.
The Memorandum of Understanding (MoU) was signed by Mr. Amandeep Singh, President LCV, International Operations, Defense & Power Solutions, Ashok Leyland, and Mr. Ravindra Kundu, Executive Director, Cholamandalam Investment and Finance Company Limited. Mr. Singh expressed the importance of supporting dealerships in maintaining a good inventory, emphasizing the partnership with Cholamandalam as a means to instill trust in dealerships across diverse markets. Cholamandalam, known for its tailored financial solutions, will offer a range of financial products to Ashok Leyland’s dealers nationwide.
Mr. Kundu, in his remarks, highlighted the longstanding relationships Cholamandalam has built with customers and partners, emphasizing their commitment to delivering value. With their extensive network of branches across India, Cholamandalam aims to provide Ashok Leyland dealers with a unique finance experience, ensuring efficient inventory management in their respective dealerships.
The Sales & Marketing teams of Cholamandalam and Ashok Leyland will collaborate to develop joint marketing and financing programs to further enhance business volumes. This strategic partnership aims to strengthen the operational capabilities of Ashok Leyland dealerships, reinforcing the company’s commitment to providing exceptional customer support and driving growth in the commercial vehicle segment.
