Mumbai, Mar 5: Kia Motors, world’s 8th largest automaker, announced partnerships with India’s eight leading financial institutions to offer a bouquet of financial services to its stakeholders across the country.
The company signed a Memorandum of Understanding with top public sector banks, private sector banks and NBFCs namely State Bank of India, Bank of Baroda, Axis Bank, HDFC Bank, ICICI Bank, Yes Bank, Kotak Prime and Mahindra and Mahindra Financial Services Limited , which will further widen its reach in the market, the company said in a statement on Tuesday.
The company has robust plans for India and Kia’s partnerships with top Indian financial institutions would be instrumental in ensuring wide reach and deep market penetration in the country.
Staying true to the company's global commitment of ‘The Power to Surprise’, Kia plans to provide experiences that go beyond expectations. Kia Motors India will offer a basket of lucrative schemes from multiple financiers to enhance its presence even in tier 2, 3 and 4 markets.
These partnerships are aimed at offering all Kia stakeholders, including dealer partners and customers, the best possible financial services and solutions in their respective geographies. These partnerships will enable Kia to offer term loans, inventory funding and other credit solutions to dealer channel and tailor made retail finance to customers at competitive interest rates, and flexible loan tenures.
Further to this, Kia Motors along with these partners would focus on digitization of processes to reduce the lead time, paper work and making the whole experience from application to disbursement of loan seamless.
''Kia is committed to the Indian market and we have shown this consistently with our endeavors. Our passion is not only to build great cars but also to set new standards in the car ownership experience for our customers. The partnership with India’s leading financial institutions will enable us to offer best-in-class term loans to our customers while also facilitating smooth inventory funding and access to credit solutions for our esteemed dealer partners.'' said Mr. Kookhyun Shim, MD & CEO, Kia Motors India. UNI