1 June, 2006
– A total of about 113,000 contracts booked, including refinance and Construction Equipment (CEQ)
– 96,247 new vehicles financed, a 43% increase compared to 67,356 vehicles in 2004-05
– Refinance business grew by 110%
– CEQ business grew by 165%
Mr Aubrey .I. Rebello, Chief, Tata Motor Finance, says, ‘Our goal is to be the preferred financier for Tata Motors customers and channel partners. We are looking at capturing customer spending over the vehicle life-cycle, by extending value added products combining financing offerings with insurance, fleet management, operating leases, re-finance, and other products’
About Tata Motorfinance
Tata Motorfinance is the auto financing arm of Tata Motors, providing finance primarily for Tata Motors vehicles. It was established in June 2003, through the joint marketing arrangement, between Tata Motors’ Bureau for Hire Purchase and Credit (BHPC) division, and Tata Finance’s Asset Financing arm. It became a division of Tata Motors in April 2005, with the merger of Tata Finance with Tata Motors. Tata Motorfinance has 70 offices in India.