Piaggio Vehicles Pvt Ltd (PVPL), a subsidiary of Italy's Piaggio Group and a leading manufacturer of small commercial vehicles in India, has announced a partnership with Shriram Finance to streamline 3-wheeler (3W) financing across the country.
The agreement, aimed at easing the purchase of Piaggio’s passenger and cargo 3Ws, was signed by Amit Sagar, Executive Vice President CV Domestic Business and Retail Finance at Piaggio Vehicles, and G M Gilani, Joint Managing Director at Shriram Finance Limited.
This partnership also introduces a first-of-its-kind initiative in the industry, offering easy financing for women looking to enter the commercial vehicle space, supporting their journey to becoming entrepreneurs.
In addition, the collaboration will simplify the loan process for 3W entrepreneurs who may lack permanent address documentation due to frequent relocations, ensuring more flexible loan approvals. With loan tenures of up to four years and down payments starting as low as INR 20,000-25,000, Piaggio and Shriram Finance aim to make 3W ownership more accessible and affordable for aspiring commercial vehicle owners.
Amit Sagar expressed optimism about the partnership, stating, 'This is a step towards improving financing options for our commercial vehicle customers nationwide. Financing has long been a challenge in the industry, and through this collaboration with Shriram Finance, we hope to bridge that gap and make Piaggio vehicles more accessible.'
Gilani added, 'Piaggio’s Apé is a trusted brand in India, and we are excited to partner with them. Our financial solutions will make small commercial vehicles even more accessible to customers, and we are committed to introducing more such offerings in the future.'
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