The flagship financial services company of the Tata Group, Tata Capital, has signed a Memorandum of Understanding (MoU) with Maruti Suzuki India (MSIL) to offer financing solutions for new and pre-owned cars. Through this strategic alliance, the company will provide financing solutions to customers across MSIL’s Arena, Nexa, commercial channel and Maruti True Value brands.
What does the partnership offer?
Tata Capital will provide up to 100% funding as part of this collaboration, including customized products for different customer segments, along with financing options for commercial vehicles. For pre-owned cars, funding will be based on the vehicle’s market value. This partnership is a significant move in Tata Capital’s strategy to grow its presence in automotive financing while utilizing digital platforms to improve customer service.
Speaking on the partnership, Vivek Chopra, COO, Retail Finance at Tata Capital, said, “We are pleased to collaborate with Maruti Suzuki India, as this partnership perfectly aligns with our objective of providing comprehensive financial solutions that cater to the diverse needs of our customers and partners. Over the past few years, Tata Capital has also significantly expanded its footprint to over 800 branches across the country.”
Tata Capital, with over 750 branches across India, offers various solutions such as consumer finance, housing finance, commercial finance, and more for retail, housing, SME, and corporate customers.
