Toyota Kirloskar Motor Partners with UCO Bank to Offer Auto Loans in Rural Markets

Toyota Kirloskar Motor Partners with UCO Bank to Offer Auto Loans in Rural Markets

Toyota Kirloskar Motor (TKM) recently signed a Memorandum of Understanding (MoU) with India’s leading public sector bank, UCO Bank, as part of its continued efforts to strengthen the company’s customer-centric attitude. This relationship will benefit customers not only in Tier 1 markets, but also in all states and union territories, with an increased focus on Tiers 2, 3 and rural areas. It aims to enable more and more customers to access Toyota products and services.

TKM has maintained a steady focus on growing its footprint across India with particular emphasis on Tier 2 and Tier 3 markets through its push into the A&B segment with new model launches including the Cool New Glanza, Urban Cruiser and the recently launched. Hyryder urban cruiser. Through this new partnership, TKM will be better able to provide customers in semi-urban and rural areas with value-added solutions. By doing so, the company also ensures that customers can easily access the entire range of vehicles offered by Toyota Kirloskar Motor in India.

Building on collaboration, Satya Ranjan Panda, Managing Director, Marketing and Wealth Management Department, UCO Bank said, “We are delighted to partner with Toyota Kirloskar Motor as they are one of the leading car manufacturers. Through this new partnership, we are confident of reaching our customer base in Tier 1, 2 and 3 cities and towns through our extensive network of over 3,000 branches.

SK Sankyan, General Manager, Retail Banking Dept., UCO Bank, said: “We are confident that the combination will result in a quick and seamless buying experience for our existing customers who are considering buying a Toyota. It also marks the beginning of an exciting phase in the relationship between UCO Bank and Toyota Kirloskar Motor to serve customers together.

Speaking on the rapprochement, Atul Sood, Associate Vice President, Sales and Strategic Marketing, Toyota Kirloskar Motor said, “With our successful foray into the A&B segment, there is strong demand for Toyota vehicles in rural markets, and we are determined to meet the growing growing and improving sales. the experience of our customers across the country. As a customer-centric company, we have always innovated to provide unique and attractive financial programs and offers to our customers to ensure they have easy access to our range of world-class Toyota vehicles in India. UCO Bank’s extensive network and use of database will help us identify new customers and we hope to leverage our individual strengths to create the best solutions for our valued customers together.

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