Tag Jlr India

Mumbai, September 02, 2024: HDFC Bank, India’s leading private sector bank, and JLR India have signed a Memorandum of Understanding (MoU) for auto financing. The Bank will now be JLR’s preferred vehicle financier. This will bring a host of benefits for consumers such as special financing schemes, exclusive offers/ events, and priority services / engagements.

By leveraging the combined strengths of both brands, the aim is to provide customers with seamless financing options and a modern luxury car buying experience. The MoU which encompasses offerings for the entire range of JLR models, was signed by Mr. Rajan Amba – Managing Director JLR India and Mr. Arvind Vohra – Group Head, Retail Assets HDFC Bank. Present on the occasion were other senior executives from HDFC Bank including Mr. Akhilesh Kumar Roy – Business Head, Auto Loans & Inventory Finance HDFC Bank.

The services will be available across all JLR exclusive showrooms and dealerships.

Speaking on the development, Mr. Arvind Vohra, Group Head – Retail Assets, HDFC Bank said, “We are excited about this partnership with an iconic and aspirational automotive brand like JLR. The Bank will leverage its robust execution capabilities to offer a seamless customer experience.”

Mr Rajan Amba, Managing Director, JLR India said, “Our dealer partners are integral to our business, and we are pleased to be able to develop solutions to help them in ease of doing business.”

“Together, we aim to further grow the market and offer our portfolio to an increasing set of clients. To that effect, we are excited to partner with HDFC Bank for this financing program, which will further strengthen the access of our dealer partners to increased working capital. By integrating HDFC Bank’s expertise and extensive reach, we aim to offer our clients a tailored range of financial choices that cater to their individual needs.”

Mr. Akhilesh Kumar Roy, Business Head, Auto Loans & Inventory Finance HDFC Bank, said, “The coming together of the two organisations will elevate the car buying experience. Customers will now enjoy a host of tangible and intangible benefits.”

Mumbai, 10 July 2024: JLR India  announced a strong start to FY25, with a robust performance in the first quarter ended June 30, 2024. The company reported 31% year-on-year growth, with quarterly retail sales of 1,371 units, sustaining the momentum of the prior year. Both Defender and Range Rover Evoque grew by more than 50% with Defender being the highest selling model in the portfolio. Range Rover, Range Rover Sport and Defender account for 75% of the total order book.

Mr. Rajan Amba, Managing Director, JLR India, said, “We are pleased to report that our performance is tracking favourably as per our expectations. Alongside our robust sales, our order bank also grew by 10% compared to the beginning of the fiscal year showing continuous growth in demand while we continue to enhance our supplies into the market. The Defender remains our most sought-after model, and with the extraordinary response to the locally manufactured Range Rover and Range Rover Sport, we are confident of sustaining this momentum and delivering another successful year. The Indian market is responding well to our exciting product line up, and we are committed to our discerning clientele as we continue to create the world’s most desirable luxury vehicles.”