After a successful foray into the Indian market in June 2012 (New Delhi and Bangalore), the company will now offer its services of auto finance at all Toyota dealerships in Mumbai and Pune. The state of Maharashtra alone accounts for 15 per cent of the total car sales in the country. More than 1 million passenger cars of all segments were sold during 2011-12 fiscal in India and the markets of Mumbai and Pune accounted for a significant share of the sales.
Commenting on the entry of TFSIN into Mumbai and Pune, Mr Kazuki Ogura, Managing Director & CEO, Toyota Financial Services India remarked, “We are excited to make our presence felt in these two important cities. Mumbai is the financial hub of the nation while Pune is the auto manufacturing hub. We have attractive schemes for customers willing to opt for auto finance at all Toyota dealers. The service of an exclusive Finance Executive at each dealership has helped ease the generally lengthy loan application process. And almost all of our customers have received a loan decision within 8 hours.”
Mr Hiroshi Nakagawa, Managing Director, Toyota Kirloskar Motor, said, “The entry of TFSIN into these two critical markets will complement our efforts to service our customers more effectively. With the growing car market in India, our in-house finance will be an added advantage to Toyota customers. TFSIN has tremendous potential and would work like a catalyst in the growth of Toyota in India.”
The advantages for car buyers in opting for in-house auto finance are innumerable. The unique features of TFSIN offerings include 100% finance, on-road funding, customized products, insurance funding, loyalty benefits, extended tenure, low margin money and NRI funding. Also the customer will be intimated about the loan within 8 working hours post applying for the same.
Commenting on the same, Mr Sandeep Singh, Dy Managing Director (Marketing), Toyota Kirloskar Motor remarked, “We are happy to offer our financial services to car buyers of Mumbai and Pune and would like to offer our complete value added services to our customers. With the increase in the number of car manufacturers in India we would like to protect our customers’ values and interest. In this direction, we look forward to enhancing our business with a different approach”.
TFSIN offers four different finance options – Classic, Easy, Flexi and Smart – which have been evolved taking into consideration the requirements and preferences of car buyers.
“To our valued dealers and trusted customers, we look forward to providing an experience which exceeds their expectations. We want to be integral to the India growth story as the automobiles sector is showing high potential. We will continue to expand to other key markets and service more number of customers in a phased manner,” Mr. Ogura added.
At present, TFSIN is servicing all Toyota customers through Toyota dealers in New Delhi and Bangalore. Buoyed by the responses from Toyota car buyers in the two cities, TFSIN is expanding into Mumbai and Pune. Going forward, the company will explore other markets in the country