Toyota Kirloskar Motors Private Limited (TKM) today inked a Memorandum of Understanding (MoU) with M&M Financial Services. The main objective of this MoU between the two auto giants is to expand their auto retail finance services to their customers. Mahindra & Mahindra Financial Services from now on will be the most ideal financiers for the complete range of Toyota vehicles that is traded by Toyota Kirloskar Motor Private Limited. The two officials from b both the parties that signed the memorandum were Mr. Shailesh Shetty, the Vice President of Sales and Dealer Development department from Toyota Kirloskar Motors and Mr. RajnishAgarwal, the Vice President Operations from Mahindra & Mahindra Financial Services Limited.
Expressing his pleasure on the occasion, Mr. N. Raja, the Senior Vice President of Sales and Marketing Department of Toyota Kirloskar Motors Limited said that it is a great pleasure for them to be in association with Mahindra & Mahindra Financial Services. They believe that their customers will be highly benefited through the wide reach and economical rates that Mahindra and Mahindra Financial services excels in. They understand that the complete auto market is presently passing through a rough phase, but they have closely observed an increase in demand for automotive loans in small towns and rural regions. Through this association they aim at reaching maximum number of customers. It is a strong belief of their company that this moment is the rightest moment that asks them to join forces and reach out to more and more prospective customers.
Mr. RajnishAgarwal added to it that they have an edge over others in respect of reach to customers. He stated that at present they are holding an extensive network of more than 640 offices and have customers in more than 1, 50, 000 rural areas of India. Their approach is totally customer centric and they have developed different loan products that are quite suitable for various profiles of customers.