Doosan Bobcat India (DBIN) organised a financier meet at its manufacturing facility in Chennai. Top level executives from banks which dominate lending in the construction equipment industry like ICICI Bank, HDFC Bank, IndusInd Bank, Kotak Mahindra Bank, and Axis Bank participated in the event. Major non-banking financial institutions (NBFCs) like HDB, Cholamandalam, SREI, Sundaram Finance, and Tata Capital were also present at the event.
The meet was organised with an objective of enhancing the business partnership between Doosan Bobcat as a manufacturer of compact equipment and the various major financial institutions. With Doosan Bobcat’s new manufacturing plant at Chennai set to roll out theBobcat backhoe loaders in a few months, the timing of the event couldn’t have been more perfect, according to the company. The synergy created through the collaboration of a manufacturer and finance providers will benefit the end customers in terms of a superior product yielding the best return on investment with hassle-free availability of credit.
HS Kim, Director, Commercial, Doosan Bobcat India, said, “Off-highway Research showed the sales of Indian construction equipment market grew 35 per cent last year. India has not matured as an equipment finance market yet, but it is likely that the captive finance model shall evolve very soon. This is the best time to reach out and support people who want to grow but have low financial means and want to fulfill the aspiration of a better life.
DBIN’s endeavour is to bring out financing packages, which are easy to handle by customers, with less of complexity so that it becomes easy for customers to interact with us, the experienced partner.”
The executives from the various banks and NBFCs felt that through this strategic partnership, a superior quality product from a reputed brand can be made affordable to an end customer when it can be offered with a trusted and transparent financing experience.