Maruti Suzuki India Limited (MSIL) has entered into a strategic partnership with DBS Bank India Limited to enhance inventory funding options for its extensive network of over 3,863 sales outlets across the country. The partnership was formalized with the signing of a Memorandum of Understanding (MoU), aiming to bolster financial support for Maruti Suzuki’s dealer network.
Partho Banerjee, Senior Executive Officer of Marketing and Sales at Maruti Suzuki India Limited, emphasized the significance of the collaboration, stating, “This partnership is a step towards providing innovative financial products to Maruti Suzuki’s extensive dealer network across the country in line with their growing business needs. This strategic alliance strengthens our relationship with the bank, harnessing the combined capabilities of MSIL and DBS Bank India to deliver comprehensive working capital solutions for our dealer partners.”
The alliance is expected to provide a range of inventory financing solutions tailored to meet the dynamic needs of Maruti Suzuki’s dealers, ensuring they have the necessary financial resources to manage their inventory efficiently. This initiative is part of Maruti Suzuki’s broader strategy to support its dealer network amid increasing business demands and market complexities.
Divyesh Dalal, Managing Director and Head of Global Transaction Services, SME, and Institutional Liability Business at DBS Bank India, expressed enthusiasm about the partnership, saying, “We are pleased to collaborate with Maruti Suzuki India Limited, a leader in the country’s automotive sector, as one of the trusted financing partners to their widespread dealer network. DBS Bank India will leverage its leading digital supply chain solutions for SMEs and domestic presence to ensure that MSIL dealers are supported throughout the entire business cycle. Our nuanced understanding of local business realities and evolving dealer needs, coupled with our tailored product offering, will enable us to meet Maruti’s dealer requirements through timely inventory financing. Our collaboration is a step towards building a long-term partnership with MSIL.”
The partnership with DBS Bank India aligns with Maruti Suzuki’s commitment to providing robust financial solutions and fostering growth within its dealer community. By leveraging DBS Bank’s expertise in digital supply chain solutions and deep understanding of the local market, Maruti Suzuki aims to enhance its dealers’ operational efficiency and financial stability.
This collaboration marks a significant milestone in Maruti Suzuki’s efforts to support its dealer network, ensuring they are well-equipped to meet customer demands and navigate the evolving automotive market. The enhanced financing solutions are expected to streamline inventory management, reduce financial strain on dealers, and ultimately contribute to the sustained growth and success of Maruti Suzuki’s extensive sales network.
