The agreement provisions availability of loans at attractive rates for a range of commercial vehicle operators, including retail customers for tippers, new AMW haulage range and other special purpose vehicles. Country-wide reach of AMW and L&T Finance considerably improves financing options for customers.
A. Ramasubramanian – President AMW Motors and Mr G C Rangan, COO, L&T Finance signed the Memorandum of Understanding (MoU) in the company of other senior officials. Ramasubramanian stressed on importance of affordable financing for commercial vehicles giving customers an opportunity to balance monthly outgo on loans with vehicle operating costs. Affordability being key to profitability and increasing Return on Investment (RoI), key to any business. AMW’s high product performance coupled with L&T’s finance options are intended to generate increased volumes fro teh automaker.
L&T continuously endeavours to make finance availability more convenient and customer friendly, and this tie-up helps people buy a commercial vehicle of choice. AMW’s now hopes its sales offices and dealerships will reach out to more truck operators in India to boost sales across its 16 to 49 tonnes offerings.
Earlier in April 2014, AMW trucks made its foray into Kenya and Uganda with FEIL (Farm Engineering Industries Limited) appointed as dealer for both countries for AMW’s wide ranging medium and heavy trucks for goods haulage and infrastructure sector. All trucks are exported from AMW’s manufacturing facility in Bhuj, Gujarat.
Africa’s truck market, with special focus on Kenya and Uganda is expected to report high growth rates in the next few years based on investments in infrastructure sector.
AMW ahs also ventured into Middle East via Oman. This is AMW’s first consignment of LHD vehicles made possible through efforts by the export marketing team, timely product development and regulatory approvals by the R&D team.
The first batch of LHD AMW vehicles were built for L&T and Simplex Infrastructure, Oman and will be used for construction of the 900 km Batinah Expressway that connects Oman and Dubai. AMW was picked as preferred supplier over MAN and HINO. AMW’s first batch of 15 LHD HCV’s set sail for Port Sultan Qaboos in Oman on 31st may, 2014.