Daimler India Commercial Vehicles (DICV), manufacturer of BharatBenz trucks and buses, has announced signing Memoranda of Understanding (MoU) with 18 leading banks and NBFCs (Non-Banking Financial Company) to offer greater financing flexibility and convenience. The company says that adequate finance schemes have been a key challenge in the commercial vehicle sector and the impact of COVID-19 has made it even more difficult for customers to secure loans. With this move, both new and existing BharatBenz customers can now get easy, tailor-made finance schemes.
Commenting on the latest development, Satyakam Arya, CEO & Managing Director DICV said, "As many CV customers are currently facing financing hurdles, MoUs such as these add substantial choice and value. On behalf of DICV, I would like to thank all these financial institutions for their assistance in providing viable finance options to our BharatBenz customers. These competitive financing solutions will help our customers to grow their business".
Daimler India says that the move to sign MoUs with banks across the country is in line with its "customer-centric approach and commitment to providing a hassle-free buying experience". BharatBenz says that as part of the deal, the banks will evaluate the financial needs of the buyers and develop appropriate financing packages for them. At the same time, Daimler's own financing brand, Daimler Financial Services India, will also continue to provide finance options to customers.
Simultaneously, BharatBenz is also working in expanding its network in India, and it aims to have 250 touchpoints across the country by end of 2020. In November, the company announced inaugurating 10 new outlets in Tier II and Tier III cities in the Northern, Southern, and Western regions of India.