8 June, 2023, 6:00 pm
Asco Motors expects to have its new financial services division operational by early 2024.
According to Asco Motors chief executive officer Ronald Kumar, the local Toyota dealership’s recently announced service expansion should be ready for customers by the first quarter of next year.
Having a captive finance business would allow customers to procure financing for their purchases from Asco without having to seek out a financing company on their own, as Asco is not currently associated with any external finance companies.
Mr Kumar said, “It’ll hopefully provide that one stop shop convenience for our customers, so they don’t have to shop around for financing. And we’re hoping that achieves our main goal of providing ease for our customers.”
Asco Motors is already in the process of increasing capability and capacity in order to facilitate the new financial services division.
“The business intends to keep growing different product lines, which does in turn mean more employment opportunities,” Mr Kumar said.
Asco Motors is also reportedly in the process of transitioning from viewing the business as an automotive company to a full mobility solutions company in a push for sustainability and environmentally friendly practices.
Specific projects will be announced in the coming months and years.