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Maruti unveils finance schemes
May 12, 2003 16:14 IST
Maruti Udyog Ltd managing director Jagdish Khattar on Monday announced the launch of Maruti finance schemes in Punjab, Haryana, Himachal Pradesh and Chandigarh for customers at Maruti dealerships.
Claiming that the market share of Maruti in these states stood at 66 per cent as compared to the all India share of 55 per cent, Khattar said, "Through Maruti finance, we will offer convenience, transparency and value for money to our customers."
The car finance would be offered at a transparent rate of interest and would save customers the cost and inconvenience involved in searching for the "best package" in the market, he said.
Describing the states as being "extremely important" for the company, he said that the total finance targeted for this region was close to Rs 400 crore (Rs 4 billion) adding that the Direct Selling Associates of finance companies would be part and parcel of Maruti finance.
Khattar said that for the Maruti finance initiative, Maruti had tied up with eight finance companies, including ICICI bank, HDFC bank, Standard Chartered, Kotak Mahindra and Maruti countrywide.
The car industry needed to pay attention on the re-sale of existing cars and their insurance in view of the presence of prime global car companies in the Indian market, he said.
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