Suzuki Motorcycles partners PayTM and HDFC to avoid demonetisation issues the customers are facing with lack of valid currency
Suzuki Motorcycles India has partnered with the PayTM and HDFC bank, to make things easier for the customers. As a large amount of money is paid in cash during two-wheeler sales, customers are facing problem due to demonetisation. With the currency notes of Rs. 500 and Rs. 1000 are banned across the country, the two-wheeler manufactures are facing decline in sales.
In this scenario, Suzuki Motorcycles India’s step will surely give some relief to the customers, who want to buy motorcycles or scooters from the brand. According to this tie up, customers can book the preferred motorcycle or scooter by paying Rs. 20,000 through the PayTM. The remaining amount can be financed through the HDFC bank.
Also, to attract the customers, Suzuki is offering an interesting scheme. After the delivery of the motorcycle or the scooter, customers will receive Rs. 3,000 cash back from PayTM. Apart from that, government employees and HDFC bank account holders can avail loans up to 100% of value of the model. The customers who don’t have account with the HDFC bank, but have an income proof, can avail the benefit of a limited period low down payment scheme with 90% finance option.
So with this offer, customers can still purchase a Suzuki two-wheeler, even if they don’t have cash. Speaking on the scheme, Mr. Satoshi Ichida, the managing director of SMIPL has said, the company aims to limit the impact of currency ban by providing its customers convenient purchase alternative.
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With the demonetisation in effect in the country, entire auto industry is facing a decline in the sales figure. Specially the two-wheeler segment is badly hit. Customers opt for paying a large amount in cash while purchasing two-wheelers. In rural areas payment through cash happen in even larger margin than the urban areas. While Suzuki has tied up with the PayTM and HDFC bank, in the car segment Honda has partnered with private banks to provide loans to the customers.