India’s largest car manufacturer, Maruti Suzuki, has today revealed that its online car financing solution – Maruti Suzuki Smart Finance has received a great customer response. The company claims that over 1 lakh customers across the country, have availed their online loan sanctions through Maruti Suzuki Smart Finance within 9 months of its introduction. With the help of this initiative, the carmaker has digitalized 24 out of 26 touchpoints in a customer’s car purchase journey.
Through Maruti Suzuki Smart Finance, the company aims to simplify car financing and make it a more transparent process, by allowing the customer to design their own customized loan plan and selecting the best-suited finance partner from various financing options. Maruti Suzuki Smart Finance is available to all Arena and NEXA customers and the company claims that over 34 lakh customers have visited the platform, since its launch. The company has already onboarded 16 financiers within a short span, including HDFC Bank, ICICI Bank, Yes Bank, etc.
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Shashank Srivastava, Senior Executive Director (Marketing & Sales), Maruti Suzuki India Limited, said, “The recent pandemic induced digital acceleration has paved way for innovative and robust digital solutions like Maruti Suzuki Smart Finance. When we began the Smart Finance initiative, we were driven by our vision of completely transforming and curating car-buying experience that is aligned to the demands of digital age customers.”
He added, “Maruti Suzuki Smart Finance, as a concept, is a true disruptor in the market and it is heartening to see it being widely accepted by customers. Crossing over 1 lakh loan disbursals, amounting to more than INR 6500 crore, in such a short period is a significant achievement and heralds a fundamental shift towards a digital-first customer experience. Maruti Suzuki Smart Finance is yet another step by Maruti Suzuki to enhance the customer car buying experience with new and innovative solutions to offer ease of buying in their purchase journey.”
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