New Delhi, May 18, 2016
New Delhi, May 18, 2016: Providing further stimulus to its domestic growth, Honda Motorcycle & Scooter India Pvt. Ltd. today signed a Memorandum of Understanding with IndusInd Bank, offering retail finance to its customers at an attractive rate of interest on all Honda 2wheeler models.
Present at the MoU signing ceremony were Mr. Yadvinder Singh Guleria (Senior Vice President – Sales & Marketing, Honda Motorcycle & Scooter India Pvt. Ltd.) and Mr. S.V. Parthasarathy (Senior Executive Vice President & Head - Consumer Finance Division, IndusInd Bank Ltd.) along with other dignitaries.
Elaborating on this partnership Mr. Yadvinder Singh Guleria, Senior Vice President, Sales & Marketing, Honda Motorcycle & Scooter India Pvt. Ltd. said, “In 2wheeler industry, retail finance penetration is increasing and more & more customers are looking at various finance options. Riding on the aggressive network expansion plan & increased product portfolio, we will continue to create options that will enable customers to buy their favorite 2wheeler. Driven by this partnership with IndusInd Bank, we aim to further grow Honda’s retail sales.”
On the occasion, Mr. S.V. Parthasarathy, Senior Executive Vice President & Head - Consumer Finance Division, IndusInd Bank Ltd. said, “This alliance is a part of our strategy to remain a leading player in the field of two-wheeler financing. This association will bring about a synergistic benefit for both the organizations, enabling world class customer experience in terms of product and processes.”
About Honda Motorcycle & Scooter India Pvt. Ltd.
After closing the FY 2015-16 at its highest ever annual sales of 44,83,459 units, Honda two-wheelers has made flying start to the fiscal year as well. Its sales in April outperformed the industry with a 27% growth Y-O-Y; 10% points faster growth than industry. Surpassing the 4 lac sale barrier in the very first month of the fiscal year, Honda sold a total of 4,31,011 units. This represents a 90,000 unit increase viz-z-viz April 2015, Honda emerged as the highest volume gainer in the two wheeler industry, with Activa as the No.1 selling 2wheeler in India.
About IndusInd Bank Ltd.
IndusInd Bank, which commenced operations in 1994, caters to the needs of both consumer and corporate customers. Its technology platform supports multi-channel delivery capabilities. As on March 31, 2016, IndusInd Bank has 1,000 branches, and 1800 ATMs spread across 623 geographical locations of the country. The Bank also has representative offices in London, Dubai and Abu Dhabi. The Bank believes in driving its business through technology. It enjoys clearing bank status for both major stock exchanges - BSE and NSE - and major commodity exchanges in the country, including MCX, NCDEX, and NMCE. IndusInd Bank on April 1, 2013 was included in the NIFTY 50 benchmark index. Recently, IndusInd Bank ranked 13th amongst the Top 50 Most Valuable Indian Brands 2015 as per the BrandZ Top 50 rankings powered by WPP and Millward Brown. IndusInd bank has so far financed around 5.5 million two wheelers since 2000. Currently around 7 lakh two wheelers are funded by the bank every year. Strong presence and even spread across all the states of the country is the bank’s USP.
For further information, contact:
Honda Motorcycle & Scooter India Pvt. Ltd
Public Relations Department - email@example.com