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Jeep India a premium sport utility vehicle manufacturer announced a strategic partnership with Axis Bank, country’s third largest private lender, for launching Jeep Financial Services wherein the customers and dealers of Jeep vehicles will get access to affordable credit.
Formation of this entity strategically supports the anticipated growth in Jeep India’s business and a consequent rise in its customer base, said Jeep India in a statement.
“Jeep brand dealers will also benefit from this partnership as they will enjoy special interest rates and will contribute to a more seamless retail process. Axis Bank and Jeep India will get access to each other’s growing customer database. Jeep customers will be serviced from the bank’s 4586 branches spread across India and also via on-site counters at high footfall Jeep brand dealerships,” the company added.
Sales of passenger vehicles have been gradually improving in the last five months on the back of recovery in economic activity and shift in customer preference for personal mobility. At a time when customer sentiment has taken a hit due to the Covid-19 induced economic downturn, availability of affordable finance schemes has become critical for pushing sales.
“Jeep Financial Services is an initiative that will make Jeep branded SUVs more accessible than ever to aspiring Indian customers. This strategic partnership will strengthen our retail strategy and optimize the efficiency of the purchase process. Jeep Financial Services complements our go-local strategy and is a result of many synergies with Axis Bank that will sharpen our focus on customer centricity,” said Partha Datta, managing director, FCA India Automobiles.
“Our strategic partnership with a prestigious automobile brand like Jeep will enable us to reach out to newer and wider set of customers in India. Both, Axis Bank and Jeep India have a strong track record in our respective industries and this partnership’s complete focus will be on keeping customers first.
Our strong retail banking network and our presence in Jeep dealerships across India will make the Jeep retail experience seamless for customers,” said Sumit Bali, president and head, retail lending, Axis Bank.
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