Continuing its strong growth story, Mercedes-Benz India today announced its sales numbers for June 2010. The company notched-up 388 units in June 2010 (increase by 94% over June 2009). The C 200 CGI Blue Efficiency introduced in mid May continued its popularity run with 320+ units sold since launch.

In the first half of 2010 Mercedes sales increased by 79% (January – June 2010: 2402 units; January – June 2009: 1342 units). Powering this growth are the volume models of the E-Class (1056 units) and the C-Class (926 units).

Dr. Wilfried Aulbur, Managing Director and CEO of Mercedes-Benz India elaborated: "Our customers appreciate the Passion, Excitement and Fascination that are associated with Mercedes-Benz as a brand and our cars. Exciting products, world-class ownership experience and engaging customer programs have been our key levers; we have more excitement for our customers and enthusiasts in the second half of 2010."

Courtesy: Mercedes-Benz India

Audi, the German luxury car manufacturer, has continued its exceptional performance in India this year. The company has recorded half-yearly sales of 1400 cars- the highest ever for Audi in India, a growth of 71%. For the second quarter (April to June 2010), Audi India sold 622 cars and recorded an impressive sales growth of 42%. Its sales in June 2010 stood at 233 cars, a 14 percent growth over June 2009 sales (204 units).


"Our half-yearly sales performance this year is in line with our expectations and has set a new mark for us in India. This performance can be attributed to the positive response that Audi has received from its customers who truly appreciate our luxurious and dynamic design and our progressive cutting edge technology, inspired by our brand DNA ‘Vorsprung durch Technik’. This is the beginning of what we believe will be Audi’s most successful year in India to date and I am confident that we will continue to provide the discerning luxury car buyer with a highly energetic product line and exceptional service”, said Michael Perschke, Head – Audi India.

The Audi model range in India includes Audi A4, Audi A6, Audi A8, Audi Q5, Audi Q7, Audi TT and the super sports car Audi R8. The entire Audi model range is available across the country: in Gurgaon, Chandigarh, Delhi, Pune, Ahmedabad, Bangalore, Hyderabad, Kochi, Kolkata, Mumbai, Jaipur, Chennai and Ludhiana. Further developments include Mumbai South, Lucknow, Coimbatore, Surat and Indore.

Courtesy: Audi India

Audi has started assembly of the Q5 model in Aurangabad, in the Indian state of Maharashtra. In the future, up to 1,500 units of the Q5 will run off the assembly line there each year for the Indian market.

The sporty SUV is the third Audi model after the A4 and A6 to be produced in India, increasing the production volume of the company with the four rings in India this year to more than 2,400 units, compared with 732 vehicles in the preceding year. Altogether Audi has produced around 2,000 cars in India since the start of production in September 2007. By 2015 up to 6,000 units will be rolling off the line each year.

" production of the Q5 is part of our long-term growth strategy in India," says Frank Dreves, Audi Board Member for Production: “The Indian market for automobiles will grow very rapidly, and the Q5 is the right automobile at the right time.” Final assembly of the Audi Q5 takes place in five work cycles on two assembly lines alongside the A4 and A6 at the Volkswagen Group’s Aurangabad plant.

Last year also saw Audi significantly expand its line-up of engines for the models produced at the Aurangabad site: The Audi A6 sedan has been available with a 3.0 TFSI gasoline engine since March 2009, and before then customers could already choose between the 2.8 FSI, the 2.7 TDI and the 3.0 TDI. In July, an entry-level version of the A4 sedan with a 1.8 liter TFSI engine was introduced. It rounds out the previous engine line-up, which for the A4 also includes a 2.0 TDI and a 2.0 TFSI unit. Audi is currently offering the Q5 with a 2.0 TFSI and the 3.0 TDI engines. Further efficient engines will follow shortly.

Audi has been represented in the Indian market for four years now. In the spring of 2007, a separate sales company based in Mumbai was opened to manage all Indian market activities. In addition to the locally produced Q5, A4 and A6 models, Audi also offers its Indian customers the Audi A8, Q7 and TT, as well as the R8 supercar.

Courtesy: Audi India

Volkswagen, Europe's largest car maker unveiled its new sedan the New Volkswagen Vento in New Delhi today.

"For the Volkswagen Group, India is an important strategic growth market, as we continue to grow our volumes and market share in this automotive boom market with our brands Volkswagen, Audi and Skoda", Christian Klingler, Group Board Member for Sales and Marketing commented during the car presentation.

In the first six months of 2010, the Group delivered 16,900 vehicles in India, showing an increase of more than 100 percent and therefore a higher growth than the overall market (+29 per cent).

"This clearly reflects the success story of Volkswagen in India and builds a strong base for our long term goal to achieve 8-10 per cent market share for the Group", Klingler continued.

Speaking about the showcasing of the Volkswagen Vento, Mr. Neeraj Garg, Member of Board and Director, Volkswagen Passenger Cars, Volkswagen Group Sales India Pvt. Ltd said, "The Volkswagen Vento is a completely new product offering from Volkswagen in India. It will be another important brand pillar for us to stimulate the brand's growth in the country."

He further added "The Vento stands for German engineering, Best in Class Features. This particular model has been specifically designed with the expectations and wants of our customers in mind, making the Vento set benchmarks in its class." he concluded.

The New Volkswagen Vento Variants:
The New Volkswagen Vento will be available with a petrol and diesel variant. The petrol variant is equipped with a 1.6 litre engine with an output of 105PS @ 5250 rpm and a Torque of 153NM @ 3800 rpm.

The diesel variant is also equipped with the 1.6 litre engine with an output of 105PS @ 4400 rpm and a Torque of 250 NM @ 1500-2500 rpm.

It will be available in two trim levels including Trendline, Highline. The petrol variant is paired with a 5-speed manual and a 6-speed automatic gear box and the diesel variant is paired with a 5-speed manual gearbox.

Volkswagen Vento Interior:
The interior is equipped with storage compartment in front doors for 1 litre Bottles, sunglass storage inside glove box, foldable roof handles with coat hooks, front and rear centre armrest, cupholders and "Livon" fabric upholstery are proof of the sure instinct of high design quality which interprets the classic elements of the Vento in a contemporary way.

Volkswagen Vento Exterior:
In exteriors too, the Vento offers Body colored bumpers, Chrome inlays in front grille, body coloured exterior door handles & mirrors (Highline), rough road package with increased ground clearance and partially zinc coated body with 6 years anti-rust warranty.

Volkswagen Vento Safety Features:
With regards to safety, the Vento Highline is equipped with ABS, Front Airbags for driver and co-driver, Anti Theft system with interior surveillance and back up alarm.

Volkswagen Vento Features:
On comfort, the Vento Highline offers CD MP3 Player with 4 speakers, Electrically adjustable outside mirrors, Climatronic automatic air conditioning with rear AC vents, Remote control for central locking. Multi function info display including door opening warning, height adjustable driving seats and a steering wheel adjustable for reach and rake which improves the drivability of the passenger.

The Vento will establish a leadership position in its class with category defining attributes of space, style, comfort and safety. It will be manufactured at Volkswagen's Chakan plant with an annual capacity of 110,000 cars and will be available through Volkswagen's 47 dealerships across the country.

Source: Volkswagen India

Bajaj Auto Ltd has announced the sales figures for June 2010.

Highlights:
- Production constraints limited sales. 2. The new Discover 150 sold 20,000 units.
- RE 445 M will be launched in July 2010 for the suburban/ rural markets.
- June 2009 sales include 526 scooters.
- Export sales continue to be ahead of plan

Highlights:
- Motorcycle capacity of 300,000 units/month is expected to go on stream from July 2010.
- 3-Wheeler capacity of 35,000 units/month is expected to go on stream from July 2010.
- Apr-June 2009 sales include 1,693 scooters.
- Export sales momentum is expected to continue

Source: Bajaj Auto India Ltd

TVS Motor Company continued its upward trend with growth in sales for the month of June 2010 registering an increase of 36% over the same month of the previous year. Total two wheeler sales of the company grew from 115,448 units in June 2009 to 156,685 units in the current month. Cumulative two wheeler sales from April to June 2010 increased 31% with sales of 456,041 units in the current financial year as against 347,141 units in the comparable period of the previous year.

Domestic two wheeler sales witnessed robust growth of 33%, increasing from 105,361 units in June 2009 to 139,905 units in June 2010. The company not only recorded growth across all segments of the two wheeler market but also logged highest ever sales of its three wheelers during the month.

Motorcycle sales of the company registered 44 % growth in June 2010 with sales of 66,452 units compared to 46,048 units in the same month of the previous year. Scooters sales continued to excel growing at 42 % with sales of 36,742 units in the month of June 2010 as against 25,945 units in June 2009.

Three wheeler sales crossed the three thousand mark for the first time with the company registering a voluminous growth of 3,003 units in June 2010 over 810 units in June 2009.

Exports contributed handsomely to sales growth in June 2010 posting an increase of 66% with sales of 16,780 two-wheelers against 10,087 units in June 2009.

Source: TVS Motor Company

Car market leader Maruti Suzuki India Limited sold a total of 88,091 vehicles in June 2010. This includes 15,279 units for export.

The company had sold a total of 75,109 vehicles in June 2009.

Maruti Suzuki's volume in the domestic A3 segment grew by 32.5 per cent while in the A2 segment the sales grew by 11.4 per cent during the month as compared to sales in June 2009. The sales growth in the C segment was 43.9 per cent over June 2009.

The company was closed for 6 days during June 2010 (as also in June 2009) for a planned maintenance shutdown of the facilities.

Ritz was launched in May 2009, Grand Vitara was launched in Jul 2009, Eeco was launched in Jan 2010.

Source: Maruti Suzuki India Limited

Interkrafts, the authorized dealer for Mercedes-Benz in Eastern India today formally inaugurated its new showroom for Kolkata. Centrally located at Dr. Ambedkar Sarani Road, the new Interkrafts showroom is spread over an area of 6700+ sq. ft. The facility was created in a span of four months with an investment of Rs. 1.5 Crores.

Dr. Wilfried Aulbur, Managing Director & CEO, Mercedes-Benz India commented: “Interkrafts has represented Mercedes-Benz India since 2002 and has grown with us. I am sure this state-of-the-art showroom will go a long way in further enhancing customer delight. To mark the opening of this showroom we have a very fascinating car: the E-Class Coupé which witnesses its Eastern-India debut today."

The new facility of Interkrafts is tailored to offer an engaging 'Mercedes-Benz experience' for customers: drive-in valet service, luxurious customer lounge, Cafe Mercedes along a wide range of vehicles on display. The accessories and wheel configurator, engaging audio-visual presentation, boutique collection and special play area for children are further highlights of the new facility. To offer enriched vehicle purchase and ownership experience, Interkrafts has 33 dedicated and trained personnel to cater to sales, after-sales and service in Kolkata. By the start of 2009, Interkrafts announced their state-of-the-art 7000+ sq. ft. workshop at Kolkata which was set up with an investment of approximately Rs. 1 Crore. The new showroom further reinforces the initiatives towards customer delight.

Mr. Hiteshwar Singh, Director & CEO Interkrafts: “Till date, Interkrafts has sold an estimated 450+ Mercedes-Benz cars in Kolkata and West Bengal of which 70 units were sold in Jan – May 2010 (53 units in Jan – May 2009; 103 units in Jan – Dec 2009). Our focus upon the market also earned us the coveted award as the dealership with highest levels of customer satisfaction within the Mercedes-Benz India network. The new showroom will help us position ourselves even more attractively in the market and engage our customers even better."

The new E-Class Coupé
The new E-Class Coupé has won critics and fans globally because of its stunning design (Declared as the “Most Good Looking Coupé" by Chicago Athenaeum - Museum of Architecture and Design; received “The Good Design Award" by Auto Bild, Germany).

A long bonnet, sleek side flanks, crisp rear and lack of B-pillar contributes to the athletic looks of the debutante. The E-Class relation is interpreted through the twin-headlamp face, V-shaped front end and overall design language

The E-Class Coupé is the most aerodynamic series production car in the world with a drag coefficient of 0.24 only. It comes with an aggressive price tag of Rs. 57.45 Lakh onwards (Ex-showroom Kolkata)

Design which expresses passion and effortless superiority
The classic coupé side aspect reflected by the absence of the B-pillars and the fully retractable side windows give this new two-door car a distinct sporty interpretation. The hallmark of Mercedes Coupé design is its sports radiator grille with the large central star.

The E-Class Coupé has also earned its fame in the performance category. The new petrol engine combines efficiency and effortless power delivery with its 3.5 litre engine V6 engine offering 272hp at 6000rpm. With a drag coefficient of just 0.24, this is the world's most aerodynamically efficient series-production car.

The new E-Class Coupé offers all the technical innovations that one might expect from a luxury sport Coupé with new trendsetting features like - ATTENTION ASSIST (drowsiness detection system), selective damper control, preventive occupant protection Adaptive Main Beam Assist, PRE-SAFE® technology and Intelligent Lighting System all of which together make the E-Coupé a “thinking" partner. With such advanced technical developments and E-Class Coupé specific features (like keyless go, panoramic sunroof to name a few), this car further consolidates the leading position of Mercedes-Benz in the luxury class with unique trailblazing innovations for safe and sporty driving, available with no other manufacturer.

Source: Mercedes-Benz India

Honda Siel Cars India Ltd, leading manufacturer of Premium Cars in India sold 4595 units in the month of June'10 as against 4067 units sold in May'10 recording a growth of 13%.

The company had sold 5048 units in the corresponding month last year.

Model wise break-up: Jazz: 507; City: 3544; Civic: 339; Accord: 157; CRV: 48

Honda Siel Cars India Ltd., (HSCI) leading manufacturer of passenger cars in India was established in December 1995 as a joint venture between Honda Motor Co. Ltd (Japan) and Siel Limited with a commitment to provide Honda's latest passenger car models and technologies, to the Indian customers.

HSCI's first state-of-the-art manufacturing unit was set up at Greater Noida, U.P in 1997 with an investment of Rs. 450 crore. The total investment made by the company in India till date is Rs. 1620 crores. At present, the company has a capacity of manufacturing 100,000 cars.

HSCI's second manufacturing facility is in Tapukara, Rajasthan. This facility is spread over 600 acres and will have an initial production capacity of 60,000 units per annum, with an investment of about Rs 1,000 crore. The first phase of this facility was inaugurated in September 2008.

Source: Honda Siel Cars India Ltd

Mahindra Two Wheelers, a part of the US $7.1 billion Mahindra Group, today announced that its sales for the month of June 2010 stood at 10017 units, as against 2333 units in June 2009, an increase of 329%.

Total cumulative sales from April to June 2010 stood at 27063 units, as compared to 6135 units for the same period last year, an increase of 341%.

“The popularity of our products continues to grow with each one of them catering to different consumer preferences and lifestyles. Coupled with this, our sustained and focused efforts to enhance brand awareness amongst our target customers, especially the Young Indian, as well as the strong equity that brand Mahindra carries, have been the cornerstones of our success in this quarter," said Mr. Anoop Mathur, Sector President and Member of the Group Executive Board, Mahindra & Mahindra Ltd.

Mahindra 2 Wheelers' Power Scooters caters to a range of target customers. The Mahindra Rodeo with its very innovative, contemporary features is popular amongst the Indian youth, while the Mahindra Duro is positioned as a family scooter. The Flyte is the Indian woman's two-wheeler of choice.

Source: The Mahindra Group

Toyota Kirloskar Motor has registered a growth of 42% in sales in June 2010, compared to the corresponding period last year. It sold 6,180 units in June 2010 against 4,367 units in June last year.

Cumulative sales for the period January to June 2010 stands at 37,126 units, recording an increase of 76% over the same period last year.

Commenting on the performance, Mr. Sandeep Singh, Deputy Managing Director-Marketing, TKM said, "We are excited by the continued overwhelming response to our products, and more importantly we are happy with the confidence that our Indian customers have instilled in us over the years."

The company has ramped up production of the Fortuner in its Bidadi plant gradually, to meet the increased demand. The company is also rapidly expanding its sales and service network, it intends to take the dealership network to 150 outlets by the end of 2010, across the country.

Source: Toyota Kirloskar Motor

Tata Motors' total sales (including exports) of Tata commercial and passenger vehicles in June 2010 were 67,730 vehicles, a growth of 49% over 45,440 vehicles sold in June 2009. The company's domestic sales of Tata commercial and passenger vehicles for June 2010 were 62,602 nos., a 45% growth over 43,284 nos. sold in June last year.

Cumulative sales (including exports) for the company for the fiscal are 181,708 nos., a growth of 48% over 123,114 nos. sold last year.

Commercial Vehicles
The company's sales of commercial vehicles in June 2010 in the domestic market were 34,791 nos., a 33% growth compared to 26,245 vehicles sold in June last year. LCV sales were 19,652 nos., a growth of 21% over June last year. M&HCV sales stood at 15,139 nos., a growth of 52% over June last year.

Cumulative sales of commercial vehicles in the domestic market for the fiscal are 97,229 nos., a growth of 35% over last year. Cumulative LCV sales are 55,073 nos., a growth of 21% over last year, while M&HCV sales stood at 42,156 nos., a growth of 58% over last year.

Passenger Vehicles
The passenger vehicles business reported a total sale and distribution offtake of 29,948 nos. (27,811 Tata + 2,137 Fiat) in the domestic market in June 2010, a 53% increase compared to 19,513 nos. (17,039 Tata + 2,474 Fiat) in June last year. Sales of Tata passenger vehicles were 27,811 nos., a growth of 63% over June 2009. Sales of the Tata Nano were 7,704 nos. The Indica range sales were 9,003 nos., lower by 12% over June last year. The Indigo range recorded sales of 7,502 nos., a growth of 113% over June last year. The Sumo/Safari range accounted for sales of 3,602 nos., higher by 9% over June last year.

Jaguar Land Rover sales continued their upward trend since launch in June 2009.

Cumulative sales and distribution offtake of passenger vehicles in the domestic market for the fiscal are 78,336 nos. (72,236 Tata + 6,100 Fiat), against 50,691nos. (45,837 Tata + 4,854 Fiat) last year, a growth of 55%. Cumulative sales of the Nano are 14,779 nos. Cumulative sales of the Indica range are 26,507 nos., lower by 8%. Cumulative sales of the Indigo family are 21,303 nos., higher by 139%. Cumulative sales of the Sumo/Safari range are 9,647 nos., higher by 20%.

Exports
The company's sales from exports at 5,128 vehicles in June 2010 registered a growth of 138% compared to 2,156 vehicles in June last year. The cumulative sales from exports for the fiscal at 12,243 nos. are higher by 134% over 5,221 nos. in the same period last year.

Source: Tata Motors India

SkodaAuto India, a fully owned subsidiary of SkodaAuto a.s., Czech Republic and one of the most promising automobile companies in India, today announced a sales growth of 43% for the month of June 2010 over the same period last year. SkodaAuto India's total sales for June 2010 stood at 1638 units against 1145 units in June 2009.

SkodaAuto India sales for the first half of 2010 (Jan-June'10) stood at an impressive 68% growth as compared to the same period last year. The company sold a total of 9814 units from January to June 2010 as against 5840 units for the same period last year. All the Skoda models have improved in their market share as compared to last year. Skoda Superb has been outperforming the D segment with almost 30% market share and has maintained the No. 1 position since its market introduction.

SkodaAuto's sales growth has been indicating an upward trend from the very beginning of 2010.

Speaking on the achievement Thomas Kuehl, Board Member, Sales and Marketing, SkodaAuto India said "Our commitment to quality and superior technology has enabled consumers to see value in our offering and that is evident from the growth figures for the first half of 2010. We are delighted to see this growth and extremely positive about continuing this growth trend. At SkodaAuto, we are constantly engaging with our customers and looking to enhance their experience through after sales and customer care. We are at a threshold of a very exciting period, as in addition to the existing fleet we will be entering new product categories and launch new cars. Our objective has always been to offer the best 'money for value' proposition across each category along with the SkodaAuto promise of roominess, solid built & safety."

Ashutosh Dixit, Senior General Manager, Sales and Marketing, Skoda Auto India commented "Our expansion strategy and solid dealer network has supported our growing sales and helped us cater to the increased demand. At SkodaAuto there is a conscious effort to ensure that the customer experience is enhanced during the after sales period. In line with our commitment to customers, we organized a 'Pre-Monsoon Campaign' at all Skoda dealerships across India ensuring a safe and hassle free driving experience for all Skoda lovers this monsoon"

For Skoda enthusiast in the interiors of India, SkodaAuto has initiated a month long "Fabia Float Campaign". A float displaying Skoda Fabia and a test drive car will travel across the interiors of various states such as Maharashtra, Gujarat and Punjab. This makes the Skoda Fabia freely available for potential customers in these states for a test drive in their own streets.

Internationally, SkodaAuto is one of the fastest growing automobile companies worldwide. The car maker has a strong presence in Central & Western Europe; it is also extremely successful in emerging markets like China and India.

Source: SkodaAuto India

Mahindra & Mahindra Ltd. (M&M Ltd.), a part of the US $7.1 billion Mahindra Group, today announced that its auto sales for June 2010 stands at 27562 units, as against 22999 units for the same period last year, an increase of 20%.

The company's domestic sales stand at 26243 units, as against 22526 units in June 2009, an increase of 16.5%. Exports have grown by 179%.

The 3W-Gio-Maxximo range of products have registered a phenomenal growth of 125% over same period last year.

Despite the annual shutdown in the first week of June, the Auto Division had posted such strong growth rates.

The YTD UV sales which include the Scorpio, Xylo, Bolero and Pick-Ups, stand at 53948 units, as against 48720 units in June 2009, a growth of 11%.

The total YTD sales of Q1 F11 stand at 82093, as against 62869 for the same quarter of last year, a growth of 31%

Source: The Mahindra Group

General Motors India has registered an impressive growth of 112% in sales in June 2010, compared to the corresponding period last year. It sold 9539 units in June 2010 against 4492 units in June 2009.

The June 2010 sales comprised 2,911 units of the Chevrolet Spark, 3,415 units of Chevrolet Beat, 1,423 units of the Chevrolet Tavera, 773 units of the Chevrolet Cruze, 398 Units of Chevrolet Aveo, 387 units of Chevrolet Aveo U-VA, 139 units of the Chevrolet Captiva and 93 units of Chevrolet Optra.

The increase in the sales was primarily driven by the tremendous response to the recently launched and much sought after Chevrolet Beat and Chevrolet Cruze and the extremely popular Chevrolet Spark. Chevrolet Beat and Chevrolet Cruze have become the industry benchmarks in their respective segments and a winner among consumers in India, with their best-in-class design, performance and other product attributes. Chevrolet Spark continues to register impressive sales, clearly validating it as the one of the most sought after car in its segment in terms of styling, performance and fuel efficiency offering a value for money proposition.

Commenting on the performance, Mr. P. Balendran, Vice President, GM India said, "We are excited by the continued overwhelming response to Chevrolet Beat, Spark and Cruze. Introduction of best-in-segment cars from the 300 series, increase in customer outreach through distribution network, our unique value proposition like Chevrolet Cashless Ownership offer and our promise to deliver quality and performance are the factors that have led to the impressive sales."

Chevrolet recently completed seven years of its successful journey after its foray into the Indian market. Launched in 2003, Chevrolet has become one of the most popular and the fastest growing automotive brands in the country, having sold over 3,00,000 cars in India. With a wide array of products and services, Chevrolet has brought unmatched product quality and unparalleled performance to the Indian consumers. To celebrate this important milestone and strengthen its ever increasing customer base, General Motors India has undertaken several initiatives like Chevrolet Free Mega Service Camps, the Mega Gold Rush Scheme for customers, several fun-filled activities around the Beat, gala evenings, special movie shows and a slew of dealer driven activities across the country to engage with its valued customers.

It may be recalled that the company has ramped up production by adding the second shifts at Halol and Talegaon plants recently to meet the increased demand of its products. The company is also rapidly expanding its sales and service network to support the increasing market demand of its cars. It intends to take the network to 300 sales points and an equal number of authorized service outlets by the end of this year from the current 206 sales points and 200 authorized service outlets across the country.

Source: General Motors India

IndusInd Bank Ltd. and Tata Motors have entered into an agreement, where IndusInd Bank will provide channel finance facilities to Tata Motors’ dealers.

The dealers of Tata Motors will now have access to ready upstream finance from IndusInd Bank to meet their working capital requirements in addition to the existing retail finance arrangements. IndusInd ranks in the top retail financiers for Tata motors commercial vehicle segment today. This tie up is a part of the strategic focus of IndusInd Bank in developing the supply chain business.

Mr. R. Ramakrishnan Vice President (Sales & Marketing, Commercial Vehicle Business Unit, Tata Motors Limited) said, “Tata Motors Commercial vehicle has a good share of business in the retail asset funding through IndusInd Bank and going forward, we want to leverage this tie up to garner even more business in the retail loan segment. We would also like to provide our Channel partners with the inventory funding from IndusInd Bank at reasonable and competitive rates. We are sure that our growing network will drive the tie up to achieve the aspirational growth targets.”

Mr Suhail Chander, Head Corporate & Commercial Bank, IndusInd Bank said, “We, at IndusInd, are already amongst the largest Retail Financier of Commercial vehicles in the country. A Channel Finance facility to the dealers is a natural corollary to this business. By introducing technology, we aim to create value in this partnership between the Dealer, Tata Motors & IndusInd Bank.”

Mr. Ramesh Ganesan, Head Transaction Banking, IndusInd Bank said, “IndusInd Bank’s focus is to expand the scope of client relationships by adding value to partners of our clients. There is an increased need for financing in this fast growing sector. We propose to deliver this product through a technological platform enabling integration with the manufacturer and the dealers, thus speeding up credit delivery at a reduced costsupported by widespread branch network.”

Courtesy: Tata Motors India