Maruti Suzuki gains on launch of new offer

Maruti Suzuki in partnership with Cholamandalam Investment and Finance Company Limited (CIFCL) introduces ‘buy now pay later offer’ thereby, allowing customers to start making EMI payments after 60 days of loan disbursement.

Maruti Suzuki and CIFCL have joined hands for offering customised auto retail financing solutions to retail buyers. During the current stressful times, when many are facing liquidity crunches, owing to the impact of COVID-19 pandemic, the two companies will work together in making new car purchases easy and affordable. The newly-introduced scheme will provide the customers with easy financing options like two-month EMI deferment, with an aim to extend relief as well as provide advantage to car buyers. Making the process of car buying more convenient, the car manufacturer has stated that the offer is available on select Maruti Suzuki models only and will be applicable on loan disbursement till June 30, 2020.  

Speaking on the partnership, Ravindra Kundu, Executive Director of Cholamandalam Investment and Finance Company, in an official statement, said, “This partnership will give us a strong foothold in the car financing space, with our 1,094 branches spread across semi-urban and rural markets. The synergies between the organisations are aimed towards singular focus to bring benefits to the customers. This ‘buy-now-pay-later offer’ will help customers in realising their dreams without postponing the purchase any further.”

On Friday, the stock of Maruti Suzuki was seen trading at Rs 4,991.30, down by 1.18 per cent or Rs 59.45 per share. The 52-week high is Rs 7,755 and the 52-week low is Rs 4,002 on BSE. The stock of CIFCL was trading at Rs 125.30, down by 3.54 per cent or Rs 4.60 per share. The 52-week high is Rs 348.85 and the 52-week low is Rs 117.40 on BSE.