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Maruti rolls out online finance platform in Arena dealerships across 30 cities.

Auto Sector Booms…TataMotors, Ashok Leyland…

The carmaker said it has currently partnered with 12 financiers,

Subsequently, the company plans to rope in other key financiers, it noted.

MSI sells products like Alto and Vitara Brezza from Arena sales network.

Maruti Suzuki India (MSI) on Friday said it has launched an online financing platform at its Arena dealerships across 30 plus cities. With the launch of Smart Finance platform, 24 out of 26 steps in the customer vehicle purchase journey have been digitized, the auto major said in a statement.

The digital platform allows customers to choose the best-suited loan product, completion of all finance related formalities and disbursal of loan, with just a few clicks, it added. The company’s website will act as a facilitator between the customer and the financier providing real time status updates and in turn provide a hassle free and transparent financing solution, MSI said.

The carmaker said it has currently partnered with 12 financiers including State Bank of India, HDFC Bank, Mahindra Finance, ICICI Bank, IndusInd Bank, Bank of Baroda, Cholamandalam Finance and Kotak Mahindra for the initiative. Subsequently, the company plans to rope in other key financiers, it noted.

”We are overwhelmed with the response to our Smart Finance platform from our NEXA customers. Now, we want to extend the ease of a car buying journey for our ARENA customers as well,” MSI Executive Director (Marketing & Sales) Shashank Srivastava said. The pandemic situation in the country has further increased the usage of digital platforms and with Smart Finance, the company aims to reach out to a larger audience, assist them and make every stage of the loan process transparent, he added.

The Smart Finance service is now available for Arena customers in 30+ plus cities including Delhi, NCR, Jaipur, Ahmedabad, Pune, Mumbai, Bangalore, Chennai, Hyderabad, Lucknow, Indore and Kolkata. Other cities being, Cochin, Chandigarh, Guwahati, Bhubaneswar, Bhopal, Coimbatore, Surat, Vadodara, Ranchi, Raipur, Nagpur, Trivandrum, Visakhapatnam, Udaipur, Kanpur, Vijayawada , Dehradun, and Goa.

MSI sells products like Alto and Vitara Brezza from Arena sales network while models like Baleno, Ciaz and XL6 are retailed from Nexa dealerships.

Similarly Tata Motors and Ashok Leyland and others have performed very well during this week and Investors who have done bottom- fishing during  peak pandemic period have all been rewarded well and harvested  even cent percent in a few months period.

Morgan Stanley is slightly ‘overweight’ on India and thinks the market can outperform the other emerging markets.

“The market is outperforming other markets in north Asia even though we have had some concerns on that front typically around Iran-Iraq tensions, we maintain small overweight on India,” he said.

The economy is on the growth trajectory with the virus being controlled with the  new doses of injections which has given  hopes of resurrection of the economy for many countries except a few. Hence investors are advised to take positions keeping the inherent risks that may emerge in the days to come.

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