22 May 2025
A Strategic Collaboration to Enhance Retail Financing Access
Maruti Suzuki India Limited (MSIL) has announced a significant new partnership with SMFG India Credit (SMICC) to enhance financing solutions for commercial vehicle customers. The Memorandum of Understanding (MoU), signed on May 21, 2025, is aimed specifically at buyers of the Maruti Suzuki Super Carry and Eeco Cargo models.
The agreement was formalized in the presence of senior officials from both organizations, reinforcing their mutual commitment to supporting small and medium enterprises (SMEs) and individual buyers through simplified auto financing.
Key Highlights of the Partnership
This collaboration is expected to benefit thousands of small business owners and transporters across urban and rural India.
- Targeted Vehicle Models: Super Carry and Eeco Cargo
- Official Signing Date: May 21, 2025
- Scope: Customized financing solutions tailored for commercial vehicle buyers
- Distribution Reach: SMFG’s network spans 670 towns and 70,000 villages through 1,000 branches
- Maruti Suzuki’s Reach: Over 4,000 sales outlets and 5,000 service centers nationwide
Empowering Buyers with Tailored Credit Solutions
This collaboration is expected to simplify the purchasing process for commercial vehicle buyers by making credit more accessible. SMFG India Credit will now be part of Maruti Suzuki’s wide financing ecosystem, offering loans suited to various business needs.
Furthermore, SMFG’s vast rural and urban outreach is poised to benefit customers in underserved regions, empowering them with flexible and convenient financing options.
Statements from Key Leaders
Partho Banerjee, Senior Executive Officer, Marketing & Sales, Maruti Suzuki India Limited, said, “This partnership with SMFG India Credit is a step towards offering flexible and accessible financing solutions to our customers. The Super Carry has consistently been favored by fleet owners, while the Eeco Cargo has carved a niche with its blend of comfort and utility.”
Ajay Pareek, Chief Business Officer, SMFG India Credit, commented, “We are excited to join Maruti Suzuki’s financing network. This partnership aligns with our vision to be a preferred financial partner across India, especially for entrepreneurs and small business owners looking to invest in reliable transportation solutions.”
Strengthening the Commercial Vehicle Ecosystem
With this collaboration, Maruti Suzuki and SMFG India Credit aim to create a more robust and inclusive financing environment, particularly for the commercial segment. The availability of tailor-made financial products will further boost the accessibility of Maruti Suzuki’s popular models like the Super Carry and Eeco Cargo in India’s dynamic logistics and delivery market.
About the Companies
Maruti Suzuki India Limited is a leading automobile manufacturer in India, known for its strong network, reliable vehicles, and customer-first approach. The company offers 18 models across categories and maintains production capabilities of 2.35 million units annually.
SMFG India Credit is a non-banking financial company regulated by the Reserve Bank of India and a wholly owned subsidiary of Japan-based Sumitomo Mitsui Financial Group (SMFG). With a diverse service portfolio, SMFG is among the largest global financial institutions.
Outlook for Commercial Vehicle Financing in India
This partnership marks another step forward in Maruti Suzuki’s ongoing efforts to make vehicle ownership simpler and more accessible for business users. As the commercial vehicle segment continues to grow, such collaborations will play a vital role in empowering small businesses, supporting entrepreneurship, and driving last-mile connectivity across India.
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