Toyota Kirloskar Motor (TKM) inks MoU with Mahindra & Mahindra Financial Services Limited

BANGALORE, India - April 17, 2013 - PRLog -- New Delhi, April 15th, 2013: Toyota Kirloskar Motor Pvt. Ltd. today announced the signing of a Memorandum of Understanding (MoU) with Mahindra & Mahindra Financial Services Ltd. to extend auto retail finance to their prospective customers. Mahindra & Mahindra Financial Services Ltd. will be one of the preferred financiers for the entire range of vehicles sold by Toyota Kirloskar Motor Private Limited (TKM). The MoU was signed by Mr. Rajnish Agarwal – Vice President Operations, Mahindra & Mahindra Financial Services Limited and Mr. Sailesh Shetty, Vice President, Sales & Dealer Development, Toyota Kirloskar Motor.

Commenting on this occasion, Mr. Rajnish Agarwal – Vice President Operations, Mahindra & Mahindra Financial Services said, “Our wide network of 640+ offices and customer presence in more than 1,50,000 villages across India, gives us an edge in reaching out to the deepest parts of the country. We have a customer centric approach and have developed loan products suitable for all profiles of customers. This ability also will create strong synergies.”

Also speaking on the occasion, Mr. N. Raja, Senior Vice President, Sales & Marketing, Toyota Kirloskar Motor said, “We are pleased to announce this partnership with Mahindra & Mahindra Financial Services as our customers will greatly benefit with the competitive rates and convenient locations that Mahindra & Mahindra Financial Services is present in. Even though the overall auto market seems to be challenging at the moment, we have seen a surge for automobile loans in semi urban and rural areas and we hope this new association of ours will help us reach out to more prospective customers. This is the right time for us to step up our efforts to reach out to more customers with better and easier finance options.”

For more info on our product & services visit: http://www.toyotabharat.com

Overview of TKM:

Company name          Toyota Kirloskar Motor Private Limited

Managing Director          Hiroshi Nakagawa

Equity participation          TMC: 89%, Kirloskar group: 11%

Number of employees  Approx. 6,000 +

Land area          Aprox. 432 acres (approx.1,700,000 m2)

Building area          74,000 m2

Total Installed Production capacity          Upto 3,10,000 units

Overview of TKM 1st Plant

Established         October 1997 (start of production: December 1999)

Location          Suburb of Bangalore, Karnataka State

Products          Innova, Fortuner manufactured in India. Prado, Land Cruiser and Prius imported as CBUs.

Installed Production capacity      Upto 1,00,000 units

Overview of TKM 2nd Plant

Location          On the site of Toyota Kirloskar Motor Private Limited (on the outskirts of Bangalore, Karnataka State)

Products          Corolla Altis, Etios, Etios Liva, New Camry

Start of production          December 2010

Installed Production capacity         Upto 2,10,000 units

For any further information please contact:

Toyota Kirloskar Motor Pvt. Ltd.          

Ananya Bhattacharjee

Mobile : 0-7259017457

E-mail: ananya_bhattacharjee@toyota-kirloskar.co.in