The finance deal targets small enterprises, large CV owners and individuals.
04 Aug 2022 | 1943 Views | By Autocar Pro News Desk
Ashok Leyland's authorised distributors, Deluxe Trucks and Buses in Kenya have signed a partnership with Kenya Commercial Bank to jointly promote the Ashok Leyland Brand of Vehicles. The Kenya Commercial Bank (KCB) is one of the largest financial institutions in the region offering an array of services in this east African nation.
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Ashok Leyland's authorised distributors, Deluxe Trucks and Buses in Kenya have signed a partnership with Kenya Commercial Bank to jointly promote the Ashok Leyland Brand of Vehicles. The Kenya Commercial Bank (KCB) is one of the largest financial institutions in the region offering an array of services in this east African nation.
The deal enables Ashok Leyland customers to access flexible financing options in a deal from Kenya Commercial Bank. The partnership will see customers enjoy up to 95 percent financing with an extended repayment period of 72 months as well as a comfortable 60-day payment holiday. In addition, customers will be able to access an embedded tracking and insurance package and access to unsecured working capital of up to KES 3 million among other bank products available at the bank. Also catered for are KCB SAHL Banking customers who under the Shariah-compliant banking model, will be able to purchase trucks from Deluxe Trucks & Buses at affordable rates.
Amandeep Singh, Head International Operations for Ashok Leyland expressed his pleasure at the tie up and noted that, "Ashok Leyland Trucks and Buses has a wide future ready portfolio in commercial vehicle categories ranging from 2.55 Ton GVW to 55 Ton GVW and buses suited for all applications. This partnership with KCB will enable customers to avail financing options to purchase Ashok Leyland commercial vehicles at industry best terms and conditions."
KCB Bank Director of Corporate Banking, Esther Waititu said, "We are delighted to partner with Deluxe Trucks & Buses, for financing Ashok Leyland products.”
On his part, Deluxe Trucks & Buses E.A. Managing Director, Ameet Shroff said, "The partnership targets individuals, Small Medium Size companies, and large commercial businesses.”
The Kenyan CV market has a significant presence of Chinese made trucks.
Deluxe Trucks & Buses E.A. Ltd, which is wholly owned by Simba Corp, was appointed the sole authorised distributor of the full range of Ashok Leyland brand of trucks and buses. The vehicles are locally assembled at Associated Vehicle Assemblers (AVA) which is also owned by Simba Corp. Deluxe Trucks and Buses' current network includes dealerships in Nairobi, Nakuru, Mombasa and Thika, and plans to appoint dealers in other major towns countrywide.