Tata Motors ties up with private lenders for commercial vehicles financing

It will enable customers to avail attractive financial schemes from all the partner financiers with minimal formalities, it added.The other private banks include Equitas Small Finance Bank, AU Small Finance Bank, Union Bank of India and Punjab National Bank. It added that some others will cater to small commercial vehicle SCV customers in semi-urban and rural locations, with special offerings dedicated to the customers of pick-up, the Tata Yodha.

PTI | New Delhi | Updated: 18-01-2021 17:30 IST | Created: 18-01-2021 16:08 IST
Tata Motors ties up with private lenders for commercial vehicles financing

Homegrown auto major Tata Motors on Monday said it has entered into partnerships with leading private banks, including HDFC Bank, ICICI Bank and Yes Bank, to fund its commercial vehicles.

The tie-ups aim to enhance value offerings for customers of both new as well as pre-owned vehicles throughout the customer lifecycle, Tata Motors said in a statement.

The offerings arising out of these tie-ups will include ancillary financial provisions such as fuel financing, working capital financing, aggregate financing and service cost financing. It will enable customers to avail attractive financial schemes from all the partner financiers with minimal formalities, it added.

The other private banks include Equitas Small Finance Bank, AU Small Finance Bank, Union Bank of India and Punjab National Bank. NBFCs such as Cholamandalam Investment and Finance Co Ltd, HDB Financial Services, and Sundaram Finance are also part of the tie-ups.

''Our partnership will certainly add value and leverage our common strengths to meet the ever-evolving needs of our customers.

''We are confident of an increased reach in customer categories, product segments and geographies and hope that this will help us serve our customers in an efficient and delightful manner in the future as well,'' said Tata Motors Vice-President (Sales and Marketing, and Commercial Vehicles Business Unit) Rajesh Kaul.

Tata Motors said its BS-VI offerings have garnered ''an overwhelming response in the market, with the fleet owners appreciating the lowered total cost of ownership of the vehicles''.

It added that in the wake of such enthusiasm, these financial offerings promise customers easy access to financial schemes from leading banks in the country for the purchase and financing of the vehicles and services.

Some of these financing solutions will target large corporate and individual customers with large fleets in the medium and heavy commercial vehicle (M&HCV) space, with attractive offerings in terms of cost and high quality of service, the company said. It added that some others will cater to small commercial vehicle (SCV) customers in semi-urban and rural locations, with special offerings dedicated to the customers of pick-up, the Tata Yodha.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


TRENDING

OPINION / BLOG / INTERVIEW

Addressing conflict-related sexual violence at long last

... ...

Why unequal access to coronavirus vaccines is a threat to us all

... ...

India’s love affair with fossil fuels: the path to sustainable development?

... ...

Videos

Latest News

Indian-origin schoolgirl youngest on UK team for Europe Math Olympiad

A 13-year-old Indian-origin schoolgirl has become the youngest to be selected for the UK team which will compete at the prestigious European Girls Mathematical Olympiad to be hosted by the eastern European country of Georgia next month.Aany...

Journalists'' group calls for release of reporters in Myanmar

The Society of Professional Journalists, saying it is frustrated and fed up with the arrests of reporters doing their jobs, has called on Myanmar to release Associated Press journalist Thein Zaw and five others detained while covering prote...

50 people sue Wisconsin city over handling of protests

Fifty people are suing a Wisconsin city over the way it handled protests last fall after authorities announced that a police officer would face no charges for the fatal shooting of a Black teenager. Protesters demonstrated in Wauwatosa in O...

Moderna reaches supply deal with Philippines for 13 mln vaccine doses

Moderna Inc said on Saturday it has agreed to supply the Philippines government 13 million doses of its COVID-19 vaccine, with deliveries set to begin in mid-2021. The company will work with regulators to pursue necessary approvals prior to...

Give Feedback