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Hyundai Join Hands with Canara Bank

By Motortrend India Staff   |   22 March,2009

Hyundai Motor India signed a Memorandum of Understanding (MOU) with the Canara Bank to provide easy finance facilities for its customers. The partnership is aimed at boosting the business at a time when the industry is facing a major slowdown.

Canara Bank is a public sector bank with a wide network of 2700 branches and over 33 millions acclaimed customers. Commenting on the occasion, Arvind Saxena, Sr. Vice President, Marketing and Sales, Hyundai said, “We are glad to partner with Canara Bank as we see it as value addition for our customers. In the current scenario, we consider it as a welcome move as there is a need for increased financing options and rationalized interest rates for the benefit of our customers. Canara Bank is known for its initiatives with its competitive products and the wide reach it is sure to broaden the choice for customers seeking finance options. We on our part want to give our customers the best experience, not only while driving our cars, but also when buying them.”

The two partners have decided to utilize the strengths of each other to spread their business across the length and breadth of the country. The bank will provide competitive rate of interest for financing Hyundai vehicles providing increased convenience to their customers.

Hyundai Motor already enjoys a strong presence in India and now after the alliance with Canara Bank, it desires to further strengthen its position in the country.

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