June 23, 2014
The agreement will help provide loans at attractive rates for all classes of commercial vehicle operators, including retail customers and will be available across the range of AMW vehicles such as tippers, the new AMW haulage range and other special purpose vehicles. The country-wide reach of AMW and L&T Finance will considerably augment financing options for customers. The Memorandum of Understanding was signed by Mr. A. Ramasubramanian, President, AMW Motors and Mr. G. C. Rangan, COO, L&T Finance. Senior officials of both companies were present during the occasion.
Mr. A. Ramasubramanian said, "Affordable financing for commercial vehicles is extremely important as it provides our customers the advantage of aligning their monthly outgo on loans with vehicle operating costs and enables them to increase the Return on Investment, which is crucial to business. The combined benefit of high product performance and attractive financing options is a 'win-win' for all of us. We are privileged to be associated with L&T Finance and are confident that this tie-up will generate increased volumes for AMW and better overall productivity for customers."
Mr. G. C. Rangan, COO, L&T Finance, said, "With this strategic tie-up with AMW, we feel that the potential of owning a quality portfolio by the transport community, will get a real boost. It is our continuous endeavour to make finance availability more convenient and customer friendly and with this partnership, we believe, we will be able to help people in buying their choice of commercial vehicle."
This partnership is expected to benefit and support customers across India by making loans easily accessible with attractive benefits. The benefits include attractive interest rates, high loan to value of commercial vehicles, simple documentation process, personalized services, quick disbursement and pan India network. AMW expects that this agreement with L&T Finance will help its sales offices and dealerships to reach out to more truck operators across the country.
AMW Motors Ltd (AMW) is India's leading manufacturer of heavy commercial vehicles and has achieved a unique position in India's transportation sector through innovative engineering and customer orientation. The company also received six consecutive awards for its vehicles from various industry forums.
Wide product range
AMW offers trucks ranging from 16 to 49 tonnes and has pioneered several segments in the Indian CV market.
AMW's fully integrated manufacturing facility in Bhuj, Gujarat, has a planned capacity of 50,000 commercial vehicles per annum. The facilities include a fully integrated assembly line, contemporary cab and paint shops and world-class testing facilities. AMW's 200-seat research centre focuses on research and development of new products and technologies that impact performance characteristics, safety, environment and comfort.
For additional information, please contact:
Mr Sadique Shaheedi
General Manager - Brand and Marketing
Phone: +91 22 33826161 / 6165