Maruti Suzuki gains 2% on partnership with Axis Bank for easy finance solutions

Maruti is confident that this association with Axis Bank will help customers in offering convenient, affordable and cost-effective finance solution for buying cars.

Moneycontrol News

July 07, 2020 / 15:12 IST

Maruti Suzuki Dzire | 17,675 | The Maruti Suzuki Dzire takes the top spot in sedans with a sales of 17,675 units and while this is a growth of 26 percent from September, the numbers have decline by 10 percent from October last year.

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Shares of Maruti Suzuki India rose 2 percent intraday on July 7 following the partnership with Axis Bank to provide easy finance options for the potential car buyers.

"Axis Bank is one of the key partners of Maruti Suzuki for dealer inventory as well as retail financing solutions. As a part of the tie-up, the bank will offer attractive flexi EMI options to ease the liquidity and repayment stress of customers during these tough times," said the country's largest car maker in its statement.

Attractive finance options for Maruti Suzuki customers include 100 percent on-road funding for salaried customers for 8 years, step-up scheme with EMI starting at Rs 1,250 per lakh, low EMI scheme for 1st three months with starting at Rs 899 per lakh etc. This offers are valid till July 31, 2020.

"One of the impacts of COVID-19 pandemic has been change in people's behaviour when it comes to mobility. Concern over safety and maintaining social-distancing has uptick the preference for having a personal vehicle," Shashank Srivastava, Executive Director (Marketing & Sales) at Maruti Suzuki India said.

Maruti is confident that this association with Axis Bank will help customers in offering convenient, affordable and cost-effective finance solution for buying cars, he added.