Mumbai: Ashok Leyland on Tuesday signed an MoU with Magma Fincorp Limited (MFL) to provide financing to customers of commercial vehicles.
The MoU would pave the way for enhancing sales by improving financing coverage in the eastern and northern markets, the company said in a statement here.
“This strategic partnership will help leverage the areas of strength of the two partners and significantly increase the ‘feet-on-street´ to promote their respective product offerings,” Ashok Leyland executive director (Marketing), Rajive Saharia said.
“Through this association with Ashok Leyland, we can both provide superior financing options for their customers and also have the opportunity to broad base the commercial vehicle assets financed by us to give us a wider pan-India presence,” MFL joint managing director, Ravi Todi, said.
MFL brings to the table its strong distribution and service network of 150 offices across the country with a strong focus on semi-urban and rural areas.