Toyota Kirloskar Motor and Mahindra & Mahindra Financial Services have joined hands to extend auto finance to prospective Toyota customers looking for finance options.
According to the Memorandum of Understanding (MoU), Memorandum of Understanding (MoU) will be the preferred partner for the full range of Toyota vehicles sold in the Indian market.
The MoU was signed by Mr. Rajnish Agarwal – Vice President Operations, Mahindra & Mahindra Financial Services and Mr. Sailesh Shetty, Vice President, Sales & Dealer Development, Toyota Kirloskar Motor. Mahindra & Mahindra Financial Services has a wide network of 640+ offices and customer presence in more than 1,50,000 villages across India.
Toyota recently launched the 2013 model year Etios series in the Indian market with improved features and a powerful variant of the Liva 1.5.
Toyota currently the following products in the Indian market: Innova, Fortuner, Corolla Altis, Etios, Etios Liva, New Camry, Prado, Land Cruiser and Prius hybrid. Toyota has two manufacturing plants in India with an installed capacity of upto 3,10,000 units.
Toyota has gained the fourth spot in the Indian market overtaking Tata Motors and is further looking to increase its market share.