This strategic initiative ensures continuity to Jeep India’s go-local strategy underscored by the $250 million investment
· Jeep customers and dealers will benefit from bespoke solutions from Jeep Financial Services
· The strategic partnership will support Jeep India’s ‘go local’ strategy and also strengthen Axis Bank’s aim to offer best-in-class services to its growing customer base
· Axis Bank will cater to financial needs of all Jeep customers from its extensive network of 4586 branches
· Jeep dealerships will have an on-site Axis Bank counter to ensure seamless services and buying experience.
Jeep India announces a strategic partnership with Axis Bank to launch ‘Jeep Financial Services’, which will curate financial solutions for Jeep customers as well as Jeep brand dealers. Formation of this entity strategically supports the anticipated growth in Jeep India’s business and a consequent rise in its customer base.
Jeep brand dealers will also benefit from this partnership as they will enjoy special interest rates and will contribute to a more seamless retail process. Axis Bank and Jeep India will get access to each other’s growing customer database. Jeep customers will be serviced from the bank’s 4586 branches spread across India and also via on-site counters at high footfall Jeep brand dealerships.
Dr. Partha Datta, Managing Director, FCA India Automobiles said: “We are delighted to partner with Axis Bank, one of India’s most dynamic private banks. Jeep Financial Services is an initiative that will make Jeep branded SUVs more accessible than ever to aspiring Indian customers. This strategic partnership will strengthen our retail strategy and optimize the efficiency of the purchase process. Jeep Financial Services complements our go-local strategy and is a result of many synergies with Axis Bank that will sharpen our focus on customer centricity.”
Sumit Bali, President & Head – Retail Lending, Axis Bank said: “We are delighted to partner with Jeep India and offer our best in class funding solutions to its new and existing customers and also its dealers. Our strategic partnership with a prestigious automobile brand like Jeep will enable us to reach out to newer and wider set of customers in India. Both, Axis Bank and Jeep India have a strong track record in our respective industries and this partnership’s complete focus will be on keeping customers first. Our strong retail banking network and our presence in Jeep dealerships across India will make the Jeep retail experience seamless for customers. Now, any customer who aspires to own a Jeep SUV can just walk into a Jeep dealer showroom or any Axis Bank branch to fund their dream.”
Key highlights of ‘Jeep Financial Services’:
· Higher on-road funding solutions for Jeep customers
· Longer tenures on Axis Bank vehicles loans for Jeep customers
· Jeep India and Axis Bank will tap into each other’s HNI customer base to grow business
· Jeep dealers and customers will have the benefit of structured financing solutions at competitive rates for business priorities and purchases
Jeep India has committed $250million to launch four new local products. Two out of the four products – the New Jeep Compass and the locally-assembled Jeep Wrangler have already been launched in the market.